Charities are bracing themselves against a yearly loss of more than £90m when
the income tax rate falls from 22% to 20% next month.
Gift Aid enables charities to reclaim the tax paid on one-off donations,
which means when Gift Aid is included, every pound donated to charity is
actually worth £1.28 to the organisation in question.
But from April 5 the value of donations will drop to £1.25 for every pound
donated, which will reduce charities’ income by more than £90 million a year –
the equivalent of vaccinating 18 million children against childhood diseases.
Taxman lines up early exit from doomed Concentrix tax credits deal, as HMRC faces intense scrutiny from MPs
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more