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Advice on trading subsidiaries using a charity’s premises

first_imgAdvice on trading subsidiaries using a charity’s premises  26 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 As the trading subsidiary grows, they advise that it should be granted a lease at full market rent. However, such leases must be granted with the Charity Commission’s consent and be approved by the charity’s trustees.There are also VAT implications when letting to a business: Russell Cooke warn that “where the use is substantial it may put the charity’s exemption from business rates at risk.” AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.center_img Charities will continue to need to use trading subsidiaries for the indefinite future as the government has turned down proposals to allow charities to trade, according to solicitors Russell Cooke.In their latest e-mail newsletter to clients, charity law specialists Russell Cooke report advise on how charities’ trading subsidiaries might share a charity’s premises.“Initially a trading subsidiary may occupy a relatively small part of a charity’s premises and it may be appropriate to use a licence to document the shared use”, advises James Sinclair Taylor at Russell Cooke. “Even then, a full market level fee must be charged. This applies even if the charity is not paying any rent itself.” Advertisement Tagged with: Finance Trading Howard Lake | 1 March 2004 | Newslast_img

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