Revenue news

The Inland Revenue has published draft legislation in relation to gift aid and gifts to charity that attract a right of admission to a charity. The Chancellor in the 2004 Pre-Budget Report gave details of how a special exemption in the Gift Aid rules will be amended. The special exemption currently allows the right of free admission to be disregarded as a benefit for the purposes of gift aid where the charity's sole or main object is the preservation of heritage property or the conservation of wildlife. The report said that the scope of the exemption would be expanded to allow more types of charities reliant upon visitor support to benefit. It would be further amended so that gift aid would apply where the donation is at least 10% more than the normal admission charge or where it results in unlimited right of admission for at least...