X-Factor Winner's Charity Single To Be VAT Free, Chancellor Announces


Government to waive VAT on sales of the X-Factor winner’s charity single


Published on 09 December 2013

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by The Rt Hon George Osborne MP

(WireNews+Co)

London, England

HM Treasury
HM Treasury

The government will effectively waive the VAT due on sales of the X Factor winning contestant’s charity single, the Chancellor of the Exchequer, George Osborne, has announced.

This will be in the form of a charitable donation made to the nominated charities, Together for Short Lives and Great Ormond Street Hospital Children’s Charity.

Together for Short Lives supports children with life limiting illnesses, meaning they are unlikely to reach adulthood, as well as support for their families.

Great Ormond Street Hospital Children’s Charity raises money so that the hospital can continue to provide world class care for sick children as well as providing support for their families.

In recognition of the support Together for Short Lives provides, the Chancellor wants to boost the donation the charity receives through a charitable donation equivalent to the sum of the VAT receipts collected on sales.

This year’s X Factor winner will be announced live on the ITV1 show on 15 December with the winning single also released that evening. All net proceeds from sales are going to Together for Short Lives.

The Chancellor said:

"Together for Short Lives and the Great Ormond Street Children’s Charity provides support to vulnerable children and their families at an important time.

"I want to make sure these charities really benefit with as much money as possible going to them – that’s why I am giving back the tax paid on sales of the winning single."

The donation will come from the Department of Health and will be equivalent to the sum of the VAT receipts collected on sales before the end of December 2013.

 


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Posted 2013-12-09 14:28:00