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’.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy