U Turn On Charitable Giving Tax Relief

U Turn On Charitable Giving Tax Relief

June 29th 2012 1:19 pm

general

After much furore, the Government is to u turn on intended proposals for limiting the amount of tax relief a person can claim ...

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After much furore, the Government is to u turn on intended proposals for limiting the amount of tax relief a person can claim on charitable giving. Initially mooted as a limit to either £50,000 or 25% of gross income, whichever was the lower, Chancellor George Osborne is set to reverse his 2012 Budget decision. The Government set motion talks with charities straight after the Budget to take in their views, but received protests due to concerns of a significant reduction in the income received by Charities. The Charities Aid Foundation is delighted with the decision, stating it understands that tough calls on public finances are to be made but tax reliefs on charity donations should be exempt from any measures taken.

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