22 June 2010

Emergency Budget June 2010

The Chancellor delivered his first Budget calling it a "Progressive Budget, tough but fair." His target was to reduce the current structural deficit which he intended to do by a mixture of spending cuts and tax rises. Many of these changes had been leaked to the press beforehand, no doubt in an effort to manage expectations. 

We have also produced an Emergency Budget Summary with issues concerning charities and the not for profit sector. Please click here to read.

06 May 2010

a rational change to the option to tax

A new 10% de minimis limit in respect of the disapplication rules came into effect this month, resolving a long-standing issue, says Graham Elliott.

The individual approach

An overview of VAT services offered by our dedicated team

EIS and VCT

Various changes have been made by the Finance Act 2009 to the tax benefits of these investments with effect from 22 April 2009. This fact sheet summarises the current tax position and considers the distinctions between the two types of investment.

listed building relief

Relief is given for an "approved alteration" or a "substantial reconstruction" of a "listed building". The relief entitles certain work to be undertaken/received at the zero-rate of VAT, instead of the standard rate.

It also, in certain circumstances, entitles those who have received such works at the standard rate, to reclaim the VAT.

investment management fees: charity investments

HM Revnue & Customs have traditionally taken the view that the VAT incurred on investment management fees solely related to non business activites, and therefore any VAT incurred on charges from your investment manager was irrecoverable.

tax fact cards 2010

tax fact cards 2010 - spring edition

charity briefing - spring 2010

Read our charity briefing spring 2010.

This issue has articles on VAT; Gift Aid reform; iXBRL accounts and an update for EC projects

VAT: Pay-Per Click Advertising - Zero Rate Relief

Back in April 2009 haysmacintyre wrote about Pay Per Click (PPC) advertising and zero rate relief, highlighting what was, in our opinion, an incorrect policy of HM Revenue and Customs. We have also raised the matter with the Charity Tax Group who have lobbied HMRC on the point. We are pleased to now advise you that HMRC have changed their mind.

Emergency Budget June 2010

If you would like to receive our full analysis and Budget day communications please email events@haysmacintyre.com

sporting supplies VAT exemption

This publication effects anyone associated with National Governing Bodies, but also officers of other sporting organisations which do not necessarily provide the actual facilities for taking part in sport.

parish VAT guide

an easy to understand to guide to VAT for religious organisations.