v BRINGING THE GOOD NEWS TO YOU SINCE 1994 v 25th June 2026 • The HERALD • Page 63 ASK A PROFESSIONAL BRYANT & CO Chartered Accountants & Business Advisers We provide a wide range of accounting and business services to individuals, partnerships and limited companies. We specialise in working with family owned businesses, providing guidance and advice as appropriate. Our services include: • Annual Accounts • Bookkeeping • VAT • Payroll and CIS • Personal and Corporate Tax Returns • Management Accounts • Business Advice • We also provide training on the use of Sage and Quickbooks, and the implementation of computerised and manual accounting systems. • Meetings can be arranged to suit your needs, including evenings and weekends if more convenient to you. • The initial meeting is free of charge, regardless of the length of time, as we believe it is important to develop a good working relationship from the outset. • All fees are agreed in advance of any work being undertaken. Please call Peter or Lisa on 023 8089 4982 to arrange a meeting to discuss your business needs. You can also contact Peter on 07976 808969, or email us at info@bryantandcompany.co.uk Have a look at our website www.bryantandcompany.co.uk for a fuller understanding of our business. Value-Added Boost For Charities A long-standing tax levied on businesses donating to charities has now been removed, a leading accountancy and advisory rm has said. Azets, which has o ces locally in Chandler’s Ford, Portsmouth and Havant, wants to remind businesses that they can now give goods to registered charities without paying VAT. e news comes at a time of falling charity donations; the Charities Aid Foundation (Caf) recently revealed that public donations to good causes plummeted by more than £1.4bn last year. Millions of people said they can no longer a ord to donate and just half of people gave to charity last year, down from 61 per cent a decade earlier. Until the recent change, if a VATregistered business made a donation and had already claimed back the VAT it paid on those goods, the donation was normally treated as if the business had made a sale. is meant the business usually had to pay VAT to HMRC based on the value of the goods it donated. Siobhan Holmes, an Azets partner who specialises in not-for-pro t accounting, said: “This is excellent news for charities, which we know are receiving less in donations. Essentially, HMRC has confirmed that for VAT-registered companies, no VAT will be due when eligible goods are donated free of charge to registered charities, where those goods are used to support people in need or are to deliver charitable services. The changes remove the VAT that previously applied because the business had reclaimed the amount when it originally bought the goods. However, this relief does include a monetary cap per item, and charities cannot reclaim VAT on the donated goods. Many will be unaware that donations were liable for VAT, but there will also be companies who might have disposed of goods rather than donated them because of the tax they would have to pay. We want to get the message out to businesses that they can now donate to charities with falling foul of HMRC. Office supplies and equipment, or surplus stock, is often welcomed by charities and there will be other goods that will be of great use to them. For their part, charities should make a record of donated goods - especially any expensive items - and keep an audit trail.” Azets has also warned charities and not-for-pro t organisations to ensure all their procedures and records are watertight in the light of new and enhanced compliance activity. HMRC has initiated a programme of Structured Risk Reviews (SRRs) across the charity and not-for-pro t sectors, signalling a more intensive and datadriven approach to oversight. Siobhan Holmes, Azets
RkJQdWJsaXNoZXIy MTIyNzI=