The grant will, in effect, reduce the amount of VAT paid on restoration work from 17.5% to 5%, and will apply to buildings in both rural and urban areas. It is expected to cost the government between Pounds 35m to Pounds 40m annually.
Introducing the grant, the chancellor said churches were ‘essential centres for civic life’ at the heart of ‘Britian’s rich heritage as a nation’, and the purpose of the grant was to save this heritage.
In another measure aimed at the community, Brown said his administration would consider the best way for the tax system to aid ‘thousands of non-profit sports clubs’ and to ‘recognise their contribution to community life’.
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC
An examination by the Public Accounts Committee (PAC) has revealed serious concerns relating to HMRC’s plans