Wendy Walton reviews topical issues, including the implications of the proposed income tax reliefs cap and the new SEIS rules.
Lifetime vs legacy givingIn the 2012 Budget the Chancellor announced controversial plans to cap the currently uncapped income tax reliefs which individuals can claim against general income. This will apply from 6 April 2013 and will limit relief for losses loan interest and charitable donations including gift aid to the greater of £50 000 or 25% of a person’s income.
It appears that gifts of listed shares securities and other qualifying investments will fall within the scope of the cap. This article firstly considers the implications for charitable giving.
Although the cap will not affect most donors ...
