Charity Tax

Speaker:  Tony Austin  |  CPD Hours: 6.0

Price £495 plus VAT

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OBJECTIVES

The main objectives of this course are to provide delegates with an understanding of the exemptions from tax on a charity’s income and how charities can maximise their income from Gift Aid and other donations attracting tax relief. In particular, at the end of the course participants will benefit from an understanding of:

  • factors involved in making successful Gift Aid repayment claims and handling Gift Aid audits by HMRC
  • how the Gift Aid Small Donation Scheme works including money raised from cash collected from beneficiaries at meetings in community buildings and connected charities using pooling arrangements
  • the main direct taxation principles pertaining to charities and fund-raising within the tax exemptions available to charities
  • other tax reliefs for donations to charities which can be used to incentivise donors
  • The Charity Commission’s and HMRC views regarding trading and fundraising by charities

CONTENT

  • The definition of a charity for tax purposes
  • Gift Aid rules including documentation and the problem of benefits
  • Operation of charity shops
  • Receipts from sponsors, members, patrons and benefactors
  • The Gift Aid Small Donations Scheme
  • Direct taxation principles pertaining to the various types of income of charities
  • The direct taxation exemptions for income of charities, the anti-avoidance rules and in particular expenditure which under the tax legislation is non-charitable and can result in the charity having taxable income
  • How the tainted donation rules prevent tax relief and can penalise donors and charities making arrangements for a financial benefit to donors and connected persons which are not otherwise prevented by legislation applying to specifically to the donation.
  • How income from trading and fund-raising events by charities is taxed and how tax can be avoided in a manner acceptable to HMRC by using a trading subsidiary
  • Non Gift Aid donations to charity, charitable legacies and the tax consequences for donor and donee
  • HMRC compliance for charities

WHO SHOULD ATTEND

This is an essential course for anyone concerned with the finance or audit of charities and those involved in any fundraising for charity including gifts, events, trading and legacies and their advisers. Delegates should have a basic knowledge of charity law and UK taxation.

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