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Where Taxpayers and Advisers Meet

VAT on raffle

Herbs16
Posts:78
Joined:Wed Aug 06, 2008 3:53 pm
VAT on raffle

Postby Herbs16 » Tue Aug 18, 2020 10:58 am

HI
If a vat registered jetski centre, bought a jetski and sold raffle tickets to raise money for charity, would they charge vat on the tickets?
can they also claim vat and CT back on the cost of the jetski?
Thanks

les35
Posts:611
Joined:Wed Aug 06, 2008 3:09 pm

Re: VAT on raffle

Postby les35 » Tue Aug 18, 2020 3:44 pm

Some games of chance are exempt from VAT. Check VAT Notice 701/29 to satisfy yourself on this point. A prize raffle, where no profits are retained is exempt. But the position where you are raising money is different.

pawncob
Posts:4697
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: VAT on raffle

Postby pawncob » Wed Aug 19, 2020 10:54 am

You can't have your cake and eat it. I suggest you don't mix business and pleasure as well. If you want to run it for charity, don't involve the business.
With a pinch of salt take what I say, but don't exceed your RDA


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