VAT

This tag is associated with 12 posts

Are grants and/or donations vatable income?

HMRC says: “Income will be outside the scope of VAT if it is not payment given in return for a supply of goods or services. It is important to establish that an income described as grant or donation is actually an income that is freely given and the donor does not receive anything in return. … Continue reading

Covid-19 Government Aid Rundown

This is a summary of the support relevant to most of my clients: 1. Coronavirus Business Interruption Loan Scheme (CBILS) Announced on Wednesday, 11 March 2020, this will be administered by lenders that partner with the British Business Bank. The scheme is expected to become available in the week commencing 23 March 2020. The scheme … Continue reading

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