The chancellor outlined the case for a ‘new and stronger relationship between individuals, communities and government’ in a four point plan. The plan includes:
tax changes to promote individual giving;
tax changes to promote corporate donations;
measures to promote the giving of time and volunteering; and
measures to develop a new role for voluntary organisations.
The Chancellor said: ‘I want to outline the case for a new and stronger relationship between individual, community and government – for the renewal of British civic society – or a great British society which not only defines the importance of voluntary organisations, but engenders a civic patriotism.
‘I want to propose a new financial foundation for this civic renewal – a modern financial foundation for charitable, voluntary and community action.’
The chancellor confirmed his pledge to ‘put charities on a firm foundation for the future.’ He encouraged charities to exploit the new tax regime which makes it easier for individuals and companies, to give with the aim – ‘millions more giving so that by the end of the year 2002, as a people, have given a £1 billion more.’
Report argues that the government must change the way it makes tax and budget decisions
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC