Money Matters: Triodos Bank, Social Investment Scotland, The Co-operative Bank, Crowe Clark Whitehill

David Ainsworth's round-up of what's happening in the finance world

Rob Warne, partner, Crowe Clark Whitehill
Rob Warne, partner, Crowe Clark Whitehill

A new £5m loan service to allow Scottish charities to borrow up to 100 per cent of the value of a property they want to purchase has been launched by the social lenders Triodos Bank and Social Investment Scotland. Under the scheme, Triodos will lend 70 per cent of a building's value, while SIS will lend the remaining 30 per cent.

The Co-operative Bank has launched a social enterprise and charity team for Scotland, which will provide specialist services to charities that have annual turnovers of £1m. It has also expanded its north of England team, which is based in Manchester.

Charities that receive services provided in both 2010 and 2011 should ensure the supplier bills the 2010 portion with VAT at 17.5 per cent, Rob Warne, a partner at the specialist charity auditor Crowe Clark Whitehill, told a conference. The rate will rise to 20 per cent on 4 January. Warne also said that any invoice of less than £100,000 for services provided after the rise could be eligible for VAT at 17.5 per cent if it was due to be paid within six months of being issued.

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