Commentary

B5.828 Charity exemption for profits from fund-raising events

Business tax
Business tax | Commentary

B5.828 Charity exemption for profits from fund-raising events

Business tax | Commentary

B5.828 Charity exemption for profits from fund-raising events

The profits of a trade carried on by a charity are not taken into account in calculating total income in so far as they arise from a VAT-exempt event1 (ie fundraising events by a charity, the supply of goods and services by the charity in connection with the event, which are exempt from VAT under VATA 1994, Sch 9, Gp 12).

With effect from 6 April 2011, the exemption only applies so far as the profits are either applied for charitable purposes or transferred to another charity (previously, applied to the purposes of

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