VAT & Charities

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JackieB
JackieB Registered Posts: 1
in General accounting discussion
HI
Wondering if anyone can confirm for me how they treat Grants , I know this is outside the scope but can you reclaim the vat spent on activity funded by grants or does this come under partial exemption like the zero rated stuff ?

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  • KernowAccountant
    KernowAccountant Registered Posts: 103 Epic contributor 🐘
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    JackieB said:

    HI
    Wondering if anyone can confirm for me how they treat Grants , I know this is outside the scope but can you reclaim the vat spent on activity funded by grants or does this come under partial exemption like the zero rated stuff ?

    Your question appears very confused. Given the lack of information provided there are a myriad of issues and potential responses.

    May I suggest you read VAT Notice 701/1: charities, as this may clarify your thinking.

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