VAT

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VAT

Article created 2 months ago

Updated about 2 months ago

These articles will help you understand more about VAT (Value Added Tax), what it means for your society and why the Guild is now VAT registered.

We understand that VAT can be confusing. If you still have questions about VAT after reading through these articles, send us your questions at activities@exeterguild.com!

Articles in this category

What is VAT and why does it affect my society?

What is VAT?VAT stands for Value Added Tax. It is a consumption tax added to most goods and services. You pay it when you buy things, and businesses c...

Non-Sporting Societies and VAT

Definition of Non-Sporting GroupsThere are two types of student societies, and the VAT treatment differs for each type. The distinction lies in whethe...

Sporting Societies and VAT

There are two types of student societies, and the VAT treatment differs for each type. The distinction lies in whether your group qualifies as a “spor...

When is VAT unrecoverable on costs?

What does recoverable mean?When VAT is recoverable, it means that a business registered for VAT can get back the Value Added Tax it has paid on its bu...

How do I recover VAT?

What does recoverable mean?When VAT is recoverable, it means that a business registered for VAT can get back the Value Added Tax it has paid on its bu...

Frequently Asked Questions - VAT FAQs

Q. When exactly do these VAT changes take effect? A. 1 August 2026 Q. On what basis is the Guild implementing VAT on society activ...

Sponsorships, Donations and VAT

SponsorshipSponsorship is money a company gives you in return for something, like promoting their brand or displaying their logo. When arranging...

TOMS VAT Exemption Scheme

Tour Operator Margin Scheme (TOMS) ExemptionIf a society uses this exemption, they must complete a form prior to any income received or costs incurred...

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VAT