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Charity bosses have attacked calls by the Conservative Party co-chairman for political parties to be given a good causes tax break to boost their funding.
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A housing association's request not to pay a corporation tax bill which was incurred before it changed to charity status has been rejected.
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More than two thirds of UK voters believe planned caps on tax relief for donations to charities will lead to lower contributions, according to new figures
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Tax efficient trading is essential in the current economic climate, allowing charities large and small to make profits that go to their beneficiaries. This article offers a unique insight in to how the global humanitarian organisation, the British Red Cross, has been trading through its subsidiary, Britcross Limited, since 1968 and the challenges it faces.
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Charities have called for urgent talks with the Treasury over fears that new caps on tax breaks will cost them millions of pounds each year.
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Almost nine out of 10 charity bosses feel that the Government's financial reforms will hurt their operations by capping tax relief for substantial charitable donations.
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Non-charitable expenditure is an area where our clients often seek clarification, partly because some charities presume that all charity expenditure qualifies for tax exemptions and reliefs. This is not the case.
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This article summarises the VAT and direct tax issues facing schools in England with ‘academy’ status.
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Tax professionals will soon be given the chance to take advantage of a new scheme designed to help them provide Gift Aid guidance to charities.
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Research has shown that charities and amateur sports clubs in the UK could have received an extra £1 billion this year if people had made more tax-efficient donations.
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There has been a lot of coverage recently concerning the Reed Employment case. The VAT tribunal considered whether Reed needed to charge VAT on the full price of temporary staff it provided as opposed to accounting for VAT on the commission.
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One of the most common questions that any Charity VAT advisor gets asked is whether money received should be treated as a grant or payment for a service
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Charities' plans to collaborate more with other non-profit organisations are often hit by the VAT which is charged on shared services, a range of key industry bodies have warned.
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The HMRC Charity Tax Forum met on 26 July 2011 to discuss a variety of tax issues.
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The HMRC Charity Tax Forum was set up at the end of 2010 to provide a forum in which HRMC and representatives of the charity sector, tax advisers, the accountancy profession and other key stakeholders, can discuss and review the operation of the various tax issues that impact on charities. This Forum will continue the work of HMRC Gift Aid Forum but will be wider in scope.
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Charities could avoid around £20 million per year in VAT thanks to a decision by a tribunal on the hiring of temporary staff, according to a Third Sector report.
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Charities could benefit from an added windfall of up to £550 million a year following an announced in the Budget of changes to Gift Aid rules and an incentive to encourage people to donate in their wills.
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An organisation has urged the Government to apply tax reliefs on computer hardware that has been donated to charity.
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On 23 March 2011, the Chancellor of the Exchequer delivered his first full Budget which included a number of positive measures to encourage charitable giving and simplify gift aid. However, in certain areas such as VAT-exemptions for cost-sharing, little progress has been made.
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Voluntary sector groups have criticised the Giving Green Paper for failing to include proposals for tax incentives on charity donations.
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The current funding environment means that it is increasingly difficult to tell the difference between grants and contracts – yet the tax consequences of getting this wrong can be significant.
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HMRC set 1 April 2011 as the date from which companies will have to file their corporation tax computations and supporting accounts electronically using the data exchange standard iXBRL.
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From 1 April 2011 HMRC requires charities to use iXBRL format for filing accounts (and also computations) that are part of corporation tax returns submitted from 1 April 2011.
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New provisions, to be known as the ‘tainted charity donations’ rules, are to replace the ‘substantial donor’ anti-avoidance provisions of Section 54 FA 2006. January 2011.
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A new tribunal ruling on VAT charges could affect a large number of charities.
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An anti-poverty charity, War on Want, has defended its support for direct action against tax avoidance after a Conservative MP called for an investigation.
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While the 2010 Budget speech made little mention of charities and the voluntary sector, the papers published after the speech contain several items that are of interest to the sector.
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The Government intends to commit up to £75m to a new 'social investment wholesale bank', it announced on 9 December as part of the Pre-Budget Report.
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As part of its Pre-Budget Report, the Government announced that it intends to scrap the 2006 Finance Act anti-avoidance provisions, which were aimed at charities providing benefits to substantial donors.
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As the 31 January deadline approaches for self-assessment tax returns, the Charities Aid Foundation estimates that higher-rate taxpayers are missing out on over £250m of tax relief on their charitable donations.
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HMRC has announced a change in its interpretation of the law that allows a charity to apply the zero rate of VAT to new buildings that are being used for a relevant charitable purpose.
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The Chancellor announced that other than in the NHS and international aid, 'departments will face an average real cut of around 25% over four years'.