TaxPersonal TaxVAT exemption boost for London marathon

VAT exemption boost for London marathon

Next Sunday's London marathon should be able to raise even more money for charity after new taxbreaks were granted.

Link: VAT bill harms charities

Charities traditionally buy 15,000 ‘golden bond’ places in the race for around £300 each and set sponsorship targets for runner with these bonds of between £1,500 and £2,000.

In previous years charities have been exempt from paying VAT only up to the target amount, but from this year whatever is raised will be free of VAT.

£36m is expected to be raised during this year’s run around the capital, The Daily Telegraph reported.

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