The latest edition of our Charities and Not for Profit eNews is now available to download.

The latest edition of our Charities and Not for Profit eNews is now available to download.

Charities have for a long time worked in partnership with commercial partners for many reasons, some of which include outsourcing catering; donor acquisition; project delivery; property management; provision of temporary staff; the list is extensive.

Generally speaking, charities are able to trade under certain circumstances as long as the profits made are from primary purpose trading. However, when trading involves a significant risk to the charity assets or there are significant amounts of non primary purpose trading, a charity will often set up a trading subsidiary to ringfence the activity for risk-management and tax reasons.

Welcome to the ISBA Conference edition of our Schools Briefing for independent schools, where we provide updates and insights on accounting, tax, reporting and governance for school bursars and Governors.

When the possibility of VAT being introduced on school fees was first mentioned, there was talk about being able to recover VAT incurred on costs which were previously irrecoverable. What followed, was a certain degree of incredulity as to whether this was possible and mutterings from within the Labour Party that they would put a stop to that!

On 23 April the London Chamber of Commerce and Industry (LCCI) issued its Capital 500 London Quarterly Economic Survey for Q1 2024.

Phil Salmon, Partner and Co-Head of VAT, sets out some further thoughts on the possibility of the introduction of VAT on school fees in the second of a series of articles.