A brief summary of today’s announcements as they affect Charities:
The government wants as many eligible donations as possible to attract Gift Aid, and will establish a new working group to revise the model Gift Aid Declaration to make it easier to understand, and to develop new promotional material to increase take-up. The government also intends to allow intermediaries to take a greater role in operating Gift Aid in order to reduce the number of instances where a new Gift Aid Declaration is given. However, following feedback from charities in the recent consultation exercise, it will consult further on the detail of how this can best be achieved, before changing legislation.
Cultural Gifts Scheme and estate duty
The government will amend legislation underpinning the Cultural Gifts Scheme to ensure that estate duty is brought into charge where appropriate.
Community Amateur Sports Clubs (CASCs)
Following a consultation over the summer, the government announced on 25 November 2013 a series of reforms to the tax regime for CASCs. As part of these changes, from April 2014 donations by companies of gifts of money to CASCs will be eligible for corporate Gift Aid.
Joint registration of charities
HMRC will develop a new IT system to allow charities that want to register with the Charity Commission for England and Wales, and also to apply to HMRC to claim charity tax reliefs, to submit their applications through a single online portal.
Stamp duty land tax (SDLT): charities relief
The government will legislate to make it clear that partial relief from SDLT is available where a charity purchases property jointly with a non-charity. The charity will be able to claim relief from SDLT on the proportion of the purchase attributable to it. The changes will take effect from the date on which Finance Bill 2014 receives Royal Assent.