Government to donate VAT received from sales of commemorative items

The Government has announced that it is to make a charitable donation equal to the VAT it receives from sales of commemorative charity items. Announced in this week’s Budget speech by Chancellor of the Exchequer Philip Hammond, the move follows a campaign launched by charity Remembered in October calling for a VAT rebate on sales of its Tommy figures. In his speech, Hammond said: “…many projects are raising money for veterans’ charities from sales of commemorative items on which VAT is charged. Now we cannot waive the VAT due on these sales. But we can make a donation with the VAT we will receive… …and I commit today that the Treasury will mark the Centenary of the Armistice by making a donation of £10m to the Armed Forces Covenant Fund Trust to support veterans with mental health needs." Remembered is selling the ‘There But Not There’ ‘Tommies’ to raise funds for six military charities including Walking with the Wounded, Project Equinox, and Help for Heroes. Its Change.org petition calling for VAT to be rebated reached almost 125,000 signatures. https://twitter.com/Remembered2018/status/1056923591151968256   In an update on the page, Remembered’s Rowley Gregg said: “This is fantastic news! Our small team has been working incredibly hard throughout this year to raise as much money as possible, so to receive confirmation from the government of such a sizeable donation, which we will be able to pass on to our benefitting charities, really made our Monday."      

from UK Fundraising https://ift.tt/2qmVuPD