In our latest podcast, Charlotte Black, a member of our tax practice, caught up with Richard Bray, acting chairman of the Charity Tax Group, to discuss Richard’s recent letter to the Chancellor.
The Charity Tax Group, the so-called “voice for charities on tax” recently sent a Budget submission to Rishi Sunak bursting with ideas on how the tax system could better protect charities, allowing them to survive the precarious economic climate.
One proposal is the introduction of a 10 per cent VAT rate for charities, another is for the Expanded Retail Discount to continue, to help charity shops recover. The CTG has plans to revolutionise Gift Aid which might one day be collected through contactless payments. How will the Chancellor react to these ideas? We will know on Budget Day if any ground has been won!
If you have any questions on the podcast or the topic more generally, then please get in touch with Charlotte Black, Elizabeth Jones, or your regular contact at the firm on +44 (0)20 3375 7000. If there are any other topics you would like us to cover in future briefings or podcasts, please let us know.
This publication is a general summary of the law. It should not replace legal advice tailored to your specific circumstances.
© Farrer & Co LLP, February 2021