Value Added Tax (VAT)

What is Value Added Tax (VAT)

Value Added Tax, commonly known as VAT, is a tax charged on most goods and services supplied within the UK by VAT registered businesses or imported into the UK.

As a VAT-registered business the Union is required to charge VAT at the correct rate on all goods and services it supplies - this includes those supplied by Clubs, Societies & Projects to its members.

VAT on CSP accounts

All CSP accounts are shown net of VAT - so where VAT has been charged on income, or reclaimed on expenditure, the net amount will automatically appear on your CSP's accounts. (Please note transaction lines shown in light blue are pending so the VAT amount may still need to be corrected).

To ensure VAT can be reclaimed wherever possible, you must ensure you provide Suitable VAT evidence.

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