HMRC has published the inaugural edition of its new charities newsletter, which it will use to highlight tax developments likely to be of interest to charities. The first edition leads on the Spring Budget 2023 announcement that access to various tax reliefs is being restricted to UK charities with effect from 15 March 2023 (with a limited transition until 5 April 2024 for overseas charities which already benefit from UK tax reliefs). The newsletter also summarises the consultation on charity tax compliance and the review of gift aid (both part of the Tax Administration and Maintenance Day announcements). On the latter point, HMRC would like to speak to a range of charities with relevant experience of using the gift aid service. The newsletter also includes a reminder that claims under the gift aid small donations scheme must be submitted before the expiry of two years from the end of the tax year in which the small donation was made.
HMRC has published the inaugural edition of its new charities newsletter, which it will use to highlight tax developments likely to be of interest to charities. The first edition leads on the Spring Budget 2023 announcement that access to various tax reliefs is being restricted to UK charities with effect from 15 March 2023 (with a limited transition until 5 April 2024 for overseas charities which already benefit from UK tax reliefs). The newsletter also summarises the consultation on charity tax compliance and the review of gift aid (both part of the Tax Administration and Maintenance Day announcements). On the latter point, HMRC would like to speak to a range of charities with relevant experience of using the gift aid service. The newsletter also includes a reminder that claims under the gift aid small donations scheme must be submitted before the expiry of two years from the end of the tax year in which the small donation was made.
