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2014/15 edition

VAT Factsheet

imperialcollegeunion.org

VAT Factsheet 2014/15

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Introduction Imperial College Union is registered by HM Revenue and Customs (HMRC) for VAT under VAT no. GB 240 5617 84 As money comes in and goes out of your Club, Society or Project, value added tax (VAT) may be added to the price of goods and services. VAT is a tax that’s charged on most “business” transactions in the UK. The following VAT factsheet is a simple presentation of how VAT will be treated for different types of activity you may be involved with. The factsheet splits activities into the following three categories: 1. Sports Clubs 2. Non-sport Clubs 3. Charity Events The appropriate VAT code is shown in the table.

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VAT Factsheet 2014/15

Key SE: Exempt (Money In). S1: Standard Rated (Money In) PE: Exempt (Money Out). P1 – Standard Rated (Money out) ‘S’ stands for Sales. ‘P’ for Purchases.


Money In Sport Clubs

Exempt of Standard VAT

Lesson Fee

SE

Match Fee

SE

Training Fee

SE

Refereeing

SE

Umpiring

SE

Entrance Fee Comp

SE

Travel

SE

Tour/Trip (Accommodation + Travel + Ground Hire)

SE

Mini bus/Fuel

SE

Food (Match/Competition)

SE

Kit (Club Use)

SE

Standard Rated

Drinks (Bar Nights)

S1

Hoodies (Personal Use)

S1

Dinner Packages (Christmas/Annual)

S1

Please note: Membership/Subscription is Subsidised @ 5%

VAT Factsheet 2014/15

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Money In

Non-Sporting Clubs

Exempt of Standard VAT

Standard Rated

Non-Sporting Clubs Lesson Fee

S1

Membership *

S1

Tour/Trip (Accommodation + Travel + Ground Hire)

S1

Mini bus/Fuel

S1

Food ** Training Fee

S1

Dinner Packages (Christmas/Annual)

S1

* Membership/Subscription is @ 20% ** Appropriate VAT Treatment given as per Receipt/Invoice

Charity Events (Declared and Undeclared)

4

If Declared Exempt

Ticket Sales

SE

Donation (Invoice + Letter)

SE

Donation (Box + Collection)

SE

Sponsorship (Inovice

SE

Hoodies (Club Members)

SE

Hoodies (Attendees)

SE

If Underclared Standard Rated

Ticket Sales

S1

Donation (Invoice + Letter)

S1

Donation (Box + Collection)

S1

Sponsorship (Inovice)

S1

Hoodies (Club Members)

S1

Hoodies (Attendees)

S1

VAT Factsheet 2014/15


Money Out Sport Clubs

Exempt of Standard VAT

Instructors/Umpire/Referee Charges (in most cases)

PE

Kit (Club Use)

PE

Equipment (Club Use)

PE

Food (Match Tea/Competition)

PE

Pitch/Court Hire

PE

Entrance Fee Comp

PE

Entrance Fee Conference

PE

Affiliation Fee

PE

Publicity/Advertisement (Sports Related)

PE

Printing (Sports Related)

PE

Standard Rated

Food & Drinks (Non-Sporting Occasions)

P1

Hoodies (Personal Use/Buy to Sell)

P1

Non-Sporting Clubs

Exempt of Standard VAT

Standard Rated

Equipment

P1

Pitch/Court Hire

P1

Entrance Fee Comp

P1

Entrance Fee Conference

P1

Affiliation Fee

P1

Food*

P1

Dinner Packages (Christmas/Annual)

P1

* Membership/Subscription is @ 20% ** Appropriate VAT Treatment given as per Receipt/Invoice

VAT Factsheet 2014/15

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Money Out

Charity Events (Declared and Undeclared)

6

If Declared Exempt

Venue Hire

PE

Catering Services

PE

Ticket/Poster Printing

PE

Acts

PE

Decoration

PE

Equipment Hire

PE

Hoodies Sales (Club Members)

PE

Travel/Transportation

PE

Hoodies Sales (Attendees)

PE

If Undeclared Standard Rated

Venue Hire

P1

Catering Services

P1

Ticket/Poster Printing

P1

Acts

P1

Decoration

P1

Equipment Hire

P1

Hoodies Sales (Club Members)

P1

Travel/Transportation

P1

Hoodies Sales (Attendees)

P1

VAT Factsheet 2014/15


Imperial College Union Beit Quadrangle Prince Consort Road London SW7 2BB Registered Charity No: 1151241

Tel: 020 7594 8060 Fax: 020 7594 8065 Email: union@imperial.ac.uk Twitter: @icunion imperialcollegeunion.org


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