HM Treasury is reportedly considered potential tax reforms to help boost charitable giving. The issue is being promoted by the Culture Secretary, Rt Hon Lucy Frazer, who both wishes to encourage very major donors to step forward, as well as promoting more normal donations through improvements to Gift Aid. It is clear that despite the high level of awareness of Gift Aid, there is general confusion regarding the process and a consistently large number of underclaims. As the OTS previously identified, HMRC should continue to work with the charity sector to develop better automated systems operating on a voluntary basis.
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HM Treasury is reportedly considered potential tax reforms to help boost charitable giving. The issue is being promoted by the Culture Secretary, Rt Hon Lucy Frazer, who both wishes to encourage very major donors to step forward, as well as promoting more normal donations through improvements to Gift Aid. It is clear that despite the high level of awareness of Gift Aid, there is general confusion regarding the process and a consistently large number of underclaims. As the OTS previously identified, HMRC should continue to work with the charity sector to develop better automated systems operating on a voluntary basis.
If you are not a subscriber, subscribe now to read this content.
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