Don’t let limited budgets dampen those dreams! CRE is the best place to seek professional advice on all church-based financial matters.
A vital area of concern is VAT and key questions include:
• Do I really have to pay that much VAT?
• Can I reduce it within the law while maintaining integrity?
• With such complicated rules, how can I be sure that I won’t have to pay more VAT at a later date?
Les Howard of vatadvice.org says: ‘The rules concerning the purchase, construction or development of land and property are complex,’ explained Les, who has more than 25 years’ experience in VAT, including a spell working for H M Revenue & Customs. ‘Professional advice should always be sought and as early as possible. It may be that the VAT consequences of a proposed project will have a significant effect on its viability.’
In today’s litigious world, churches also face risks far beyond property damage. Russell Hickman, church specialist at Access Insurance, said: ‘They should regularly consider the situation and be comfortable that they have sufficient insurance and risk management arrangements in place.’