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Autumn Statement Round-Up

Following the announcement of the Autumn Statement, the below points will have an effect on charities:

  1. National Insurance Employer Contributions: In an attempt to tackle youth unemployment employers will not have to pay employer NI contributions on any staff under the age of 21.
  2. Social Investment Tax relief: The new relief will be effective from April 2014.  It will cover a range if equity and debt instruments and social impact bonds.
  3. Gift Aid Simplification: Charities are due to be consulted on how the Gift Aid donation process can be simplified.  The government will also by trying to reduce the number of declarations donators need to sign by boosting the role of intermediaries.
  4. Business rates: Business rates will be capped at 2% next year.  If a charity shop premises is worth less than £50,000 then a potential discount of up to £1,000 may also apply.  Reoccupation relief may also be applicable if a charity moves into premises that were previously vacant.
  5. Stamp Duty Land Tax: Charities may claim partial relief (in proportion to the amount contributed) on SDLT where a charity purchases a property jointly with a non-charity.

For more information on this topic and other charity news please click here.

 

 

Date: 9th December, 2013
Author: Louise Giles

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