DarkLight mode
News – 19.12.24
Buzzacott advises Rose Street Partners on its investment in Kenwood Damp Proofing PLC
Discover how Buzzacott supported Rose Street Partners on its investment in Kenwood Damp Proofing PLC … Read more
Insight – 18.12.24
Start-up guide: Everything you need to know about Tronc schemes to set your new hospitality business up for success
One challenge for new hospitality businesses is the management of tips and service charges. … Read more
Upcoming event – 16.01.25
VAT on Private School fees training
This in-depth, interactive training seminar is designed to provide school administrators, bursars, finance officers, accountants, and trustees with tailored support and expert insights on the practical implementation of VAT. … Read more
Find us quickly
130 Wood Street, London, EC2V 6DL
enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
In most cases, it will depend on the type of charity, its charitable objects, the proposed activity and expected level of income.
In terms of the retail Gift Aid scheme used in many charity shops, the use of a trading subsidiary to run the shops currently allows the use of a higher £1,000 threshold of proceeds before having to notify the supporter (limited to £100 where the charity runs the shops).
Our Charity Tax team has put together some of the key advantages and disadvantages of the subsidiary structure for consideration, which was recently published as part of Charity Retail Association’s newsletter.
Should this be of interest to you, please view our fact sheet for more information, or email our Charity Tax Partner Luke Savvas.
Pros and cons of using a trading subsidiary
As a charitable organisation, there are a wide range of exemptions you can make the most of for taxes, including corporation tax, income tax, stamp duty and business rates. You can also benefit from tax reliefs such as Gift Aid and Social Investment Tax Relief, which provide further opportunities for charities to thrive.
Our not-for-profit tax team help to ensure your charity is fully tax-compliant and structured optimally to make the best use of the reliefs you’re entitled to.
Unlike others, we have separate dedicated tax specialists who work within our charity and not-for-profit team. Having chosen to specialise in the sector, most have trained as charity experts from day one. This means you have a team of experts at your disposal who really understand your sector and needs.
You can count on regular tax communications on developments and insights relevant to your industry, including our annual charity tax updates after the Chancellor’s Autumn and Spring Budgets. We also offer topical tax update seminars and bespoke fundraising workshops, keeping you up to speed with the latest requirements and opportunities.
VAT on Private School fees training
5 July 2024
15 October 2024
Tax planning and advice for charities
4
VAT consultancy for charities
5
Contact us
6
