Training & Events

Gift Aid vs VAT

In the world of tax, Gift Aid and VAT have a strange relationship. 

They are directly connected to each other, but at the same time opposed. The terminology used in each is similar, but with different meaning and implications. This results in confusion, misunderstanding and opportunities being missed.

In this Sector Insight, we will explain how Gift aid and VAT rules apply to cultural bodies, dispel common misunderstandings, and highlight ways to achieve optimum results for both taxes.

We will discuss and highlight the following areas:

  • A summary of Gift Aid and VAT rules
  • Associated procedures and required evidence
  • Examples of how the taxes work with and against each other
  • Common areas of concern, retail, memberships, admissions, fundraising events
  • The importance of benefits and benefits that can be ignored
  • Using the correct language – in type and online
  • The VAT liability of income and recovering VAT incurred on expenses

Meet the trainer

Scott Craig

Partner & Head of VAT, Azets

Scott has specialised in VAT for over 20 years and provides advice and assistance to clients in all sectors. He works closely with a wide variety of clients, ranging from further education colleges and private schools to arts bodies such as Scottish Opera and the National Theatre of Scotland. Examples of his recent work include the review of income/expenditure for a not-for-profit body and the negotiation of VAT recovery on capital works with HMRC. Scott enjoys interacting with clients, making VAT rules understandable, resolving client issues and identifying opportunities to make savings and benefits.

Details

Date: Thursday 17 October 2024
Time: 12pm-1pm
Cost:
FREE for C&BS members,
£35 + VAT for non-members
Category: Sector Insights

Trainer

Scott Craig

Venue

Online

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