VAT advice

[Mufeedah Bustin]

Hello,

I'm a Trustee for a small health charity, based in London, and we are considering converting to a CIC. I'm concerned about the VAT implications and am looking for advice around this.

Has anyone been through a similar experience? Does anyone know of a London based accountant or CIC with experience in this field?

Thank you and looking forward to hearing from you!

[John Mulkerrin]

Hi Mufeedah

CICs are subject to VAT generally but to some extent it does depend on individual circumstances how negative an effect it might cause.

Converting to CIC from a Charity is not as easy as the other way around and dare I say take a little bit longer, but if you private message me I'll be happy to connect you to an expert

Best

John

[Andrew Fleet]

Hi Mufeedah. The transfer from charity to CIC I am not sure of the general implications however from a VAT point of view it depends on what health work you are doing as to if it would be vatable....VAT is so complex that some health areas will and some wont. You also say a 'small' health business......if the turnover of the business is less than £85k you will not have to account for VAT regardless...unless there are reasons to do so which may be beneficial to the CIC.
Hope this helps.
Andy