An award winning social entrepreneur has pressed the importance of giving non-profit organisations wider tax exemptions to help their finances.<\/p>\n
Will Waldron, co-founder of Two Fingers Brewing Company, has argued that tax and distribution charges are preventing the start-up of charitable companies in the UK.<\/p>\n
His London based beer company donate their entire profits to Prostate Cancer UK and the tax demands are putting a strain on the business:<\/p>\n
\u201cWe have to pay duty as soon as the beer has left the brewery, which can be challenging for a small company\u2019s finances as we may not have sold it yet.<\/p>\n
\u201cYou also have to factor in subscription services to payment order companies even to deal with the likes of Tesco, which costs us an extra \u00a32,000 per year.\u201d<\/p>\n
During its first full year of trading in 2014, Two Fingers sold 80,000 bottles and donated more than \u00a38,000 to the chosen charity, and also became the first UK winner of The Venture, a competition for social entrepreneurs. They already produce a beer and a golden ale and are now hoping to add a lager to their list of products.<\/p>\n
With the firm looking to double its sales next year, Will is pressuring the Government to allow non-profit organisations a larger break in the tax they pay on their products:<\/p>\n
\u201cThe Government is the only entity profiting from our business, aside from Prostate Cancer UK. I\u2019ve written to George Osborne calling for tax relief but got a politely-worded response along the lines of \u2018thanks but no thanks\u2019.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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