Transactions With Substantial Donors
Author: Moira Protani.
Source: Volume 08, Number 06, September/October 2009 , pp.1-4(4)
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Abstract:
There is a popular misconception among the U.K. public that charities are exempt from taxation—far from it. Charities are subject to income tax or corporation tax,1 value-added tax (VAT),2 employment taxes, capital gains tax, rates,3 and stamp duty land tax.4 However, there are fiscal benefits associated with charitable status and, in the case of most of these taxes5 a charity is entitled to relief on making a claim to Her Majesty’s Revenue and Customs (HMRC).Keywords:
Affiliations:
1: Wilsons Solicitors LLP.