VAT Charities

VCHAR2150 - What is a charity?: Terminology

Charities will often refer to certain of their activities as 바카라 사이트渢rading바카라 사이트� activities. In this context the term 바카라 사이트渢rading바카라 사이트� is usually used to describe the organisation바카라 사이트檚 non-charitable commercial fund-raising activities. These activities are usually, if they are of any scale, carried out by the charity바카라 사이트檚 trading subsidiary. It is important not to confuse the term 바카라 사이트渢rading바카라 사이트�, when used in this way, with the term 바카라 사이트渂usiness바카라 사이트� as used for VAT purposes. For VAT purposes 바카라 사이트渂usiness바카라 사이트� can have a much wider application than 바카라 사이트渢rading바카라 사이트�, as understood by charities. A charity바카라 사이트檚 trading activities will invariably be business activities for VAT purposes. But it is important to bear in mind that, in addition, some or all of the charity바카라 사이트檚 primary or charitable activities might also be business activities for VAT purposes.

The distinction between 바카라 사이트渢rading바카라 사이트� and 바카라 사이트渂usiness바카라 사이트� is a common source of confusion for charities. A charity may consider very carefully the VAT aspects of their trading activities, but neglect to consider whether their charitable activities might also be 바카라 사이트渂usiness바카라 사이트� for VAT purposes.

When seeking advice charities will often refer to their 바카라 사이트渢rading바카라 사이트� activities. It is important when responding that you do not use the term 바카라 사이트渢rading바카라 사이트� if what you mean to refer to are the charity바카라 사이트檚 business activities.