Expert commentary and practical guidance from ICAEW related to the taxation of charitable organisations within the UK.
Facing continued economic challenges, an election on the near horizon and conflict in the Middle East and Ukraine, this was always going to be a challenging budget for the Chancellor. That did not stop the Chancellor from trying to pull some vote-winning rabbits out of the hat – although there was unfortunately little to benefit charities.
While ICAEW’s Tax Faculty supports HMRC’s efforts to counter the abuse of charity tax rules, any reforms should be proportionate to the issue. Otherwise, the reforms risk deterring volunteer involvement and vital donations to charities.
Charities are not automatically exempt from tax. Confusion arises because registered charities qualify for some tax exemptions, which leads to a mistaken belief that charities do not pay tax.
HMRC’s Charities newsletter will be published periodically to update charities and their advisers on upcoming changes relating to tax that may affect them.
At the end of April, HMRC published a Consultation Document proposing changes to charity tax rules to tackle non-compliance. This article gives an overview of the proposals and possible implications for the sector to consider.
The chancellor has announced that the Spring Budget 2023 will be held on 15 March 2023. With many charities facing unprecedented challenges due to the cost-of-living crisis, Richard Bray, Chair of the Charity Tax Group and a member of ICAEW’s Charity Committee, is asking what charities can expect from the Spring Budget and outlines three key proposals.
HMRC now allows charities to claim gift aid on waived loans if specific conditions are met and the donation is gift aid eligible. Find out how to get it right and structure the gift to maximise the benefit to donor and charity.
Tax charities TaxAid and TaxHelp for Older People give free life-changing assistance to people in crisis with tax problems. Tina Riches invites you to join a group of tax professionals next year on a climb of Mt Kilimanjaro, Africa's highest peak, to raise sponsorship in a campaign to fund the two charities.
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising around 80 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.
A chapter on the UK tax treatment of charities, containing worked examples throughout.
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A representation dated 18 July 2023 to a consultation published by HMRC on 27 April 2023.
Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
A series of guides produced by the audit firm Sayer Vincent on topics for charities, including charity shops, employee and volunteer taxation, Gift Aid, grants, and international aspects of VAT.
HMRC guidance on the direct tax obligations of charities, VAT and reliefs or exemptions available. Sections cover Gift Aid, Payroll Giving, donating land, buildings, shares or securities, claims, and audits.
A non-profit membership organisation previously known as the Charities' Tax Reform Group, which makes representations to government on issues relating to the taxation of charities. The site includes updates and commentary on a wide range of tax issues relevant to charities.
HMRC guidance on how to qualify and claim for corporation tax creative industry reliefs.
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