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VAT on X Factor Christmas single to be waived

Howard Lake | 14 December 2015 | News

VAT on sales of the X Factor’s winning single will be waived by HMRC, according to the Chancellor of the Exchequer. The decision will boost income for the two children’s charities benefiting from sales of the single.

Seventeen-year-old Louisa Johnson won the competition last night. Her version of Bob Dylan’s ‘Forever Young’ will now go on sale to benefit the charities, and is a strong contender for the Christmas Number One position.
 

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The final featured guest performances from Coldplay, One Direction and Adele.
 
HMRC has waived VAT on other charity singles including Band Aid songs and Red Nose Day singles. Without the move, the singles would have raised less for the recipient charity.

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HMRC also waived VAT on sales of the Tower Poppies last year to benefit service charities even further.
 


 

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