» Monday, April 16, 2012

Charity Tax

Asked whether the Government still stands by the figures in the Budget regarding the tax on charitable donations, the PMS said that the basic principle has been set out in the Budget. The Government wants to explore ways in which a cap can be introduced which stops the abuse by some wealthy individuals who bring down their personal tax bills through charitable giving. There is a process by which the policy will be implemented and there will be a consultation in the future.

Asked whether it was the Government’s intention that there is no reduction in charitable giving as a result of the policy, the PMS said that the broad intention of the policy is to ensure that there is a cap on reliefs as there is very clear evidence that some wealthy individuals using the reliefs to pay very little tax. The Government is encouraging philanthropy but at the same time we want to stop abuses of the system.

Asked whether there would be a cap of 50% introduced similar to the system in the United States, the PMS said that the Government would be discussing the implementation of the policy with the charitable sector and a consultation would follow.

Asked whether the consultations would be separate to discussions with the charitable sector, the PMS said that a formal consultation would be separate to any discussions.

Asked whether the PMS could be specific on the timing of the consultation, the PMS said it would be published in the summer.

Asked whether the PM would be having any conversations with charities, the PMS said that the Treasury was leading on the process but the PM often meets people from the charitable sector.

Asked whether the PM had ordered a review of Government policy presentation, the PMS said that he was briefed on policy development regularly.

original source.

Briefing took place at 10:00 | Search for related news

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