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Last updated: 29 Nov 2021
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Event follow up: VAT update - issues affecting the charity sector

It was a pleasure to be able to invite our charity and not for profit clients back into our offices last Wednesday 24 November for our VAT update – issues affecting the charity sector event.

Led by our charity VAT expert Socrates Socratous, this afternoon event took charity trustees and finance managers through a range of case law updates, provided advice on planning for exemptions as well as reviewing the latest updates from HMRC, and looking ahead as to what additional updates are on the horizon.

I attended the VAT update for charities on 24 November. I am not an accountant, but I am a trustee and chair the Finance Committee for St. Joseph’s Hospice. I found the presentation to be interesting and useful and I would encourage all trustees interested in the finances of their charity to attend this and other Buzzacott seminars. 

While the professional accountants clearly followed every detail, the style of presentation using current real life cases impacting charities kept me fully engaged throughout the seminar and opened my eyes to issues that may be important for the charities I support. This is the second Buzzacott seminar I have attended, and I will certainly be going to more.

- Peter Pledger

Event agenda

The full agenda for the event was as follows:

1. Case law

  • Colchester Institute Corporation
  • Balhousie
  • Royal Opera House
  • United Grand Lodge
  • Step by Step (Northern Ireland) Ltd
  • Cambridge University Boathouse Ltd 
  • Buzzacott client

2. Exemptions - planning

3. Updates from HMRC

  • VAT Recovery – annual adjustments & CGS
  • Construction industry reverse charge
  • Temporary reduced rate – extended to 31 March 2022
  • Online Conferences 
  • HMRC delays

4. Looking ahead - what's to come from HMRC

  • New Penalty regime from 1 April 2022 
  • Simplifying the Land exemption
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