Government waives VAT for Help For Heroes X-Factor campaign
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Released 30 October 2008
The Chancellor of the Exchequer, the Rt Hon Alistair Darling MP, has today
announced that the Government will waive VAT on the sale of the X-Factor Help
For Heroes single, by making an exceptional one-off charitable donation
equivalent to the sum of the VAT receipts collected on sales of the single.
Recognising the commitment and exemplary service of Britain’s armed forces,
the Chancellor wants to ensure that every penny people pay for this record goes
to support the work of Help For Heroes, who provide vital care for men and women
wounded in the line of service.
The Chancellor said:
“I very much support the Help For Heroes campaign and the efforts of the
X-Factor contestants. In recognition of this I am proposing effectively to waive
VAT on the sale of the X-Factor Help For Heroes single, and will do this by
making an exceptional one-off charitable donation equivalent to the sum of the
VAT receipts collected on sales of the single”
1. The fundraising song (cover of Mariah Carey’s hit ‘Hero’), was performed
by the twelve finalists of this year’s ITV1 show X-Factor, and was released on
27 October. All net record proceed are going to ‘Help For Heroes’, a charity
that provides support for wounded servicemen and women.
2. Help for Heroes will share all proceeds of the single with the Royal
British Legion’s Poppy Appeal.
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Article Published/Sorted/Amended on Scopulus 2008-11-01 12:11:55 in Tax Articles