In the second of a two-part article his 25th in this publication Maurice Parry-Wingfield Tax Director Deloitte focuses mainly on how 'non-charitable expenditure' will impact charities' tax exemption
Having identified substantial donors in last week's article we can look at the other changes affecting charities.
Non-Charitable Expenditure
Charities have wide-ranging exemptions from tax on their income and gains. However where a charity incurs expenditure other than for charitable purposes those exemptions are restricted. The method used to restrict them has now been substantially changed. (All references to ss 55 to 57 relate to FA 2006 and others to TA 1988 unless stated otherwise.)
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In the second of a two-part article his 25th in this publication Maurice Parry-Wingfield Tax Director Deloitte focuses mainly on how 'non-charitable expenditure' will impact charities' tax exemption
Having identified substantial donors in last week's article we can look at the other changes affecting charities.
Non-Charitable Expenditure
Charities have wide-ranging exemptions from tax on their income and gains. However where a charity incurs expenditure other than for charitable purposes those exemptions are restricted. The method used to restrict them has now been substantially changed. (All references to ss 55 to 57 relate to FA 2006 and others to TA 1988 unless stated otherwise.)
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")