Sign up for our FREE monthly newsletter

Don't miss out on amazing content

Part of our vision is to share our expert insight and knowledge to help business owners achieve success. Sign up today!

It must be X-Mas!

POSTED BY: Jamie Selby

11 December 17

The Chancellor, Philip Hammond has announced that the government will waive the VAT equivalent on the sales of this year’s X-Factor Christmas Charity single. All proceeds from the sale of the single are going to two children’s charities; Together for Short Lives and Shooting Star Chase Children’s Hospice.

Both charities provide support for children with life-limiting illnesses and their families. The donation will be the equivalent of the sum of the VAT receipts collected on sales of the charity single.

The Chancellor commented that:

‘I’m delighted to be able to support Together for Short Lives and Shooting Star Chase by donating the VAT collected on all sales of this year’s X Factor song. These amazing organisations do such valuable work helping children with life-threatening conditions and supporting their families to cope in extremely challenging circumstances. Every song bought will help to fund their vital work.’

The government has previously waived the VAT on previous X-Factor singles as well as for the 2016 Jo Cox Foundation single, 2015 Save the Children single, 2011’s Military Wives Choir single and the 2010 Haiti earthquake appeal single.

THE LATEST NEWS & BLOG POSTS FROM TEAM CB

Buying a rental property?

​There are many things to consider when buying an investment property

What is the herd basis?

There are special rules which can apply to farmers and market gardeners that prepare their accounts on an accruals basis

Selling or Buying a Business?

VAT when business transferred as a going concern