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A good cause

24 January 2012 / Nicola Manclark
Issue: 4338 / Categories: Comment & Analysis
Don’t rely on faith and hope: NICOLA MANCLARK looks at the tax rules for charities

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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