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A number of the textual changes proposed by the Charity Tax Group including representatives from the Buzzacott VAT team have been accepted.
This review is very welcome news as the notice had not been reviewed in full since first publication in 2002. The notice includes explains when charities are making supplies for VAT purposes when receiving sponsorship, the types of support that are not liable to VAT, and updates on competition prizes.
The section on mixed sponsorship and donation in respect of issues relating to use of a charity’s name still need updating however, and the Charity Tax Group will continue to call for further review of the guidance to make it as practical as possible for charities.
See the full version of the update Sponsorship VAT Notice 701/41 here.
If you have a question about VAT, complete the form below and one of our experts will contact you.
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