Tax experts call for Band Aid tax break to benefit all charities
Howard Lake | 6 December 2004 | News
Tax experts are calling for VAT to be scrapped for all charities following the Treasury’s decision to refund the tax from the sale of Band Aid’s DVD and new version of the chart topping single ‘Do they know it’s Christmas?’
The Band Aid Trust expects the gesture to save it up to £4 million in tax and associated administrative costs.
The Treasury’s gesture mimics the Tory government’s refund of VAT from sales of the original Band Aid single and its own refund of VAT on the record ‘Candle in the Wind’, the proceeds of which went to the Diana, Princess of Wales Memorial Fund.
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.