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Charity Update

Alan Thomson, Senior Charities Tax Consultant at Chantrey Vellacott DFK, reviews guidance recently issued by HMRC to charities

 
Alan Thomson Senior Charities Tax Consultant at Chantrey Vellacott DFK reviews guidance recently issued by HMRC to charities
Charities and non-charitable expenditure
 
HMRC has recently issued revised detailed guidance notes for charities which deal with non-charitable expenditure and transactions with substantial donors (see www.hmrc.gov.uk/charities/guidancenotes/annex2/annex_ii.htm).
 
This article will consider transactions that are caught by the substantial donor legislation in FA 2006 as explained in the guidance notes.
 
By way of background under this legislation an individual or company is a substantial donor to a charity if in its chargeable period:

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