Operate a Museum or Not for Profit Gallery? VAT Refund Scheme to reopen for applications
05.09.2022
News this week from the Dept for Digital, Culture, Media and Sport that the VAT Refund Scheme - open to the not-for-profit sector operating museums and galleries - will re-open for applications in the Autumn of 2022.
It’s a scheme that allows VAT recovery on costs incurred by these organisations where they offer free entry to the public for more than 30 hours a week. The last time applications were invited was in 2018/19 and with the impact on the sector from Covid, this news is to be welcomed.
The press release is here. Clearly, charities and social enterprises that operate in this sector would be advised to consider the benefits of making an application, but it should also be considered by universities that hold and display a wealth of historical objects and information for access by the public.
As with all things VAT related it may need some prior thought and should you need support then Centurion would be delighted to hear from your organisation – emailus@centurionvat.com
For the avoidance of doubt, the content recorded in this news article does not constitute formal advice and we do not guarantee the accuracy of any information provided at the time of reading. It is always recommended that you seek professional advice before acting on any of the news articles or information included.