How will the March 2013 budget effect the charity and not for profit sector?
Gift Aid and online donations
Currently donors must make an individual gift aid declaration each time they give online, in order for a charity to receive gift aid on their donation. It was announced in the budget that there will be a consultation with regard to online giving which would propose that online giving platforms would be able to collect just one single declaration for all donor’s future gifts through that website.
From April 2014 all UK businesses, including charities will be entitled to a £2,000 Employment Allowance towards their bill for National Insurance contributions. According to HM Treasury the move is estimated to save the charity sector around £45m a year in total.
The government is going to consult on introducing a new tax relief to encourage private investment in social enterprise by this summer, with a promise to introduce the relief in the Finance Bill 2014.
Documents released with the Budget stated that confusing guidance had previously deterred volunteers and obstructed events that are valuable to communities. Therefore they are going to improve and collate its guidance for volunteers who run events.
Date: 2nd April, 2013
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