Funding news

Move from grants could lead to 'massive' VAT bills - Wednesday, 18th January 2006

Charities face a VAT 'timebomb' because local authorities are switching from grants to service level agreements, a sector expert has said.

Tom Fitch, chief executive of the sector training organisation Community Accountancy Self Help, predicted that some smaller charities would close when hit by tax bills that were far higher than expected.

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