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Business - non-profit body? |
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VAT is charged on any ‘taxable supply’ made by a taxable person ‘in the
course of furtherance of any business carried on by him’ (s4 VAT Act
1994). The word ‘business’ is defined among other things as including
any trade, profession or vocation. Also specifically included are
chargeable services provided by a club, association or organisation to its
members.
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October 2007 |
