TaxCorporate TaxTories promise tax relief for charities

Tories promise tax relief for charities

A future Tory government would consider extending the tax relief for 'covenanted gifts' given to charities to spontaneous giving such as putting coins in collection boxes.

Link: Charity FDs left disappointed by Budget speech

A consultation document launched by Conservative leader Iain Duncan Smith called Sixty Million Citizens – Unlocking Britain’s Social Capital – proposes a range of measures to boost charities, community work and volunteering, specifically addresses this issue.

It says: ‘The people who collect money through, for example, collection boxes give very generously of their time and deserve greater recognition.

‘That is why Conservatives will investigate the costs and mechanics of as presumption of automatic tax relief on all such spontaneous giving.

‘Reducing the tax burden on charities and encouraging giving remain priorities for the Conservative Party.

‘Apart from the proposal of recognition spontaneous giving, it would not be sensible to propose a comprehensive tax agenda this far in advance of the next general election.

‘The charitable sector is one of the Conservative Party’s priorities, however, and we are aware of the sectors disappointment at changes Labour has made to ACT in particular.

‘Conservatives will be consulting on the most effective ways of advancing charitable tax reform and we are aware that the sector is particularly interested in measures that might incentivise greater corporate responsibility and long-term giving.’

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