Little for the sector from Pre Budget Report

There was very little in the Pre Budget Report presented by the Chancellor of the Exchequer on Monday (24th November) specifically for the third sector. The full text does have a couple of paragraphs "confirm(ing) the Government's ongoing commitment to the third sector" and the importance of social enterprise, http://www.cabinetoffice.gov.uk/third_sector/news/news_stories/081124_pbr.aspx.

Otherwise, two national charities are to receive additional funds to provide additional debt advice to people in financial difficulty - Citizens Advice gets £10 million and the Money Advice Trust £5.85 million, as reported in Third Sector, http://www.thirdsector.co.uk/News/864587/ (registration required).

The temporary reduction in the standard rate of VAT from 17.5% to 15% starting on 1st December will save many voluntary organisations some running costs and has been welcomed by sector umbrella bodies, for example Charity Finance Directors' Group, http://www.cfdg.org.uk/cfdg/prdetail.asp?presscode=241108.

CFDG has also produced a briefing note on the budget changes, available via http://www.cfdg.org.uk/cfdg/influencing_current_issues.asp. For practical information on VAT rate changes, see HM Revenue and Customs, http://www.hmrc.gov.uk/pbr2008/measure1.htm.