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Value Added Tax (VAT)
FINANCE. A tax levied by H.M. Customs and Excise, UK or The Revenue Commissioners, ROI on the value added to goods and services. The payment comprises the tax taken on outputs (income) less than on inputs (expenses). It is a dealt with quarterly. Penalties for non-compliance are severe.

Variance
FINANCE. The difference between budgeted and actual results. Variance can be: adverse/negative when they represent under-performance or excessice expense; favourable/positive when they represent an improvement on budget.

Vicarious Liabiblity
LEGAL. Liability of your organization for the actions or inactions of an employee, agent or volunteer, traditionally called Respondeat Superior.

Voluntary Arts
Those arts and crafts that people undertake for self-improvement, social networking and leisure, but not primarily for payment. The range of artforms is wide and includes folk, dance, drama, literature, media, music, visual arts, crafts and applied arts, and festivals. Over half the UK adult population is involved in the voluntary arts and crafts. They play a vital role in promoting community cohesion and through their activities pump an estimated £50 million into the economy each year.

Voluntary Organisations' Network North East (VONNE)
The voluntary and community sector regional network organisation for the North East of England. VONNE 'seeks to create the conditions whereby the voluntary and community sector in the North East is fully involved in regional and national developments by knowing of those developments, regularly networking together and with others, being respected and able to act as full regional partners, encouraged to feed in its views and grass roots experience, and having appropriate access to regionally determined resources'. (Further information at http://www.vonne.co.uk).

Voluntary Sector National Training Organisation (VSNTO)
VSNTO 'supports workforce learning and development for paid staff, volunteers, management committee members and trustees within the voluntary and community sectors'. (Complete information and advice at
http://www.voluntarysectorskills.org.uk).

Volunteer
Someone who willingly gives unpaid help in the form of time, service or skills, through an organisation or group.

Volunteer Bureaux (VBx)
Local volunteer recruitment and advice centres. Also known as Volunteer Centres, Councils for Voluntary Service, Voluntary Action or Volunteer Development Agencies, they are a brilliant source of information and advice. Almost every major town and city in the UK is served by a local Volunteer Bureau, as well as many more rural areas. (A BVx finder is available at http://www.do-it.org.uk/do-it/find_opp/volunteer_bureaux.html0.

Volunteer Development England (VDE)
Formerly known as the National Association of Volunteer Bureaux, VDE's main task is to promote, support and develope volunteering through Volunteer Boureaux. (More information at http://www.vde.org.uk).

Volunteering
An activity, 'which takes place in not-for-profit organisations or projects and is undertaken: to be of benefit to the community and the volunteer; of the volunteer's own free will and without coercion; for no financial payment; and, in designated volunteer position only'. The Principles of Volunteering are: 1. 'Volunteering benefits the community and the volunteer; 2. Volunteer work is undertaken without monetary reward; 3. Volunteering is always a matter of choice; 3. Volunteering is not compulsorily undertaken to receive pensions or government allowances; 4. Volunteering is a legitimate way in which citizens can participate in the activities of their community; 5. Volunteering is a vehicle for individuals or groups to address human, environment and social needs; 6. Volunteering is an activity performed in the not-for-profit sector only; 7. Volunteering is not a substitute for paid work; 8. Volunteers do not replace paid workers and do not constitute a threat to the job security of paid workers; 8. Volunteering respects the rights, dignity and culture of others; 9. Volunteering promotes human rights and equity'. (See Volunteering Queensland, at http://www.volqld.org.au).