Government waives VAT on X Factor charity single

The government has announced it will effectively waive the VAT due on Christmas sales of the charity single from the winning contestant on this weekend's X Factor television competition, by making a donation to the two charities set to benefit from 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 which 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 is also a nominated beneficiary.

Chancellor George Osborne said the Department of Health will hand over a sum equivalent to the VAT receipts collected on sales before the end of December 2013.

Barbara Gelb, chief executive, Together for Short Lives said: 'The 20% on top of sales will be a wonderful boost and will help to support the incredible services like children's hospices, across the UK, that provide care to children and young people with life-threatening and life-limiting conditions.'

Pat Sweet |Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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