Good news for Charities
The Chancellor announced some potentially good news for Charities which enter into 'cost sharing' arrangements with other similar organisations.
The Government will consult with affected sectors to consider how it can implement part of the EU VAT legislation which exempts such arrangements from VAT.
Currently such arrangements are not VAT efficient as they will usually result in an irrecoverable VAT cost, which may outweigh any cost efficiencies.
Further details will be published, but this is likely to take some time as it is a complex issue.
Jane Stacey is a VAT adviser and a senior manager at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Jane you can call her on 01727 869141.
Date: 25th March, 2010
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