London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Government’s cap on tax relief – effect on Charities

According to a survey published on 12 April by The Charities Aid Foundation (CAF) nine out of ten charity executives believe the government's cap on tax relief will discourage donations from major donors. 

The Chancellor is introducing the measure in order to prevent the wealthiest mitigating the amount of income tax they pay by taking advantage of tax relief on charitable donations.

The CAF surveyed 120 charity chief executives and senior executives the survey revealed that 88% have serious concerns over the effect the chancellor's decision to cap tax relief will have, with 78% calling on the government to reverse the move.

Charity executives also expressed fears about the potential impact on their own charities' income, with half of those expecting a reduction in income predicting their major donations would fall by at least 20 per cent.

More than 2,200 charities and individuals have signed up to support the campaign against the tax, 'Give it Back, George'.

 

 

Date: 12th April, 2012
Author: Louise Giles

SHARE THIS

Articles from this Author

Tweet

Chartered accountants @mercerhole has helped an organisation to preserve more than 190 jobs chambermk.co.uk/news/mercer-ho…

Click here to see photographs from our London Christmas Reception at @plaisterershall bit.ly/2j36ZvJ pic.twitter.com/j4NZWVw8RM

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn