NCVO calls on MPs to support VAT amendment
12th July 2010
The Finance Bill, currently going through Parliament, is due to increase the rate of Value Added Tax to 20% from 4 January 2011.
An amendment has been tabled by the Labour party to exempt charities non-business activities from the rise in the standard rate. We are calling on MPs from across the political spectrum to support this amendment. This will be voted on by MPs tomorrow evening. According to figures produced by the Charity Tax Group increasing VAT from 17.5% to 20% will cost the sector £143 million in irrecoverable VAT.
Ben Kernighan, Deputy Chief Executive said:
"We are calling on MPs to support this amendment as it will help voluntary and community organisations in their vital work supporting some of the most vulnerable people in our society."
