KEY POINTS
- Defining a charity and the required conditions.
- The treatment of trading fundraising and lottery income.
- Gift aid and the conditions for relief.
- Donors benefits and the effect of tainted donations.
- Gifts of shares and property.
There is a perception – although hopefully not among those who deal with them on a regular basis – that the taxation affairs of charities are simple: ‘They don’t pay tax do they?’
If only things were that easy!
The aim of this article is to provide a general overview of the tax reliefs exemptions and liabilities that apply to charities and their receipts.
Definition of a charity
A new definition of a charity was introduced in FA 2010 Sch 6 following...
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