FINANCE NEWS: WWF-UK bags £1m VAT rebate from tax on subscriptions

WWF-UK has secured a £1 million VAT repayment from Customs & Excise. The rebate relates to the tax treatment of its membership subscriptions.

Earlier repayments on the same issue mean the charity has now been granted a total rebate of £3.5 million.

Les Jones, WWF-UK's deputy chief executive, welcomed the windfall but pointed out that charities still face a problem with VAT which was not tackled in last week's budget.

"I am very pleased with the further reimbursement of VAT which will boost our operating expenditure at a difficult time," he said." This refund goes some way to compensating WWF-UK for the VAT burden suffered by all charities. We hope at some time in the future the Chancellor will relieve this burden completely."

Russell Moore, head of the charity VAT team at Saffery Champness, which advised WWF, urged charities to keep the VAT position under constant review.

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