{"id":60655,"date":"2015-08-24T12:17:29","date_gmt":"2015-08-24T12:17:29","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=f590372a16bf34c366b67f00726fc21e"},"modified":"2015-08-24T12:17:29","modified_gmt":"2015-08-24T12:17:29","slug":"news-story-7-ways-the-governments-making-tax-simpler-for-charities","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=60655","title":{"rendered":"News story: 7 ways the government\u2019s making tax simpler for charities"},"content":{"rendered":"
\n

Over the last five years the government has brought in a range of changes to the tax system to make it simpler for charities to make the most of tax reliefs, so that more money can go to good causes. <\/p>\n

1. It\u2019s now easier for charities to receive gift aid<\/h2>\n

Charities online<\/a>, an online system that helps charities to claim gift aid faster, was introduced in 2013. <\/p>\n

Now, instead of having to submit paper claims for tax reliefs through the post, charities can submit them online. <\/p>\n

95% of charities now use charities online to claim gift aid. The majority of claims are now processed within five working days, down from around 15 days.<\/p>\n

2. It\u2019s now simpler for charities to receive government support on small donations<\/h2>\n

If someone donates a small amount of money to a charity \u2013 for example, by giving it to a charity vendor in a high street \u2013 it\u2019s often not possible (or practical) for the donor to provide formal consent for gift aid to be claimed on that donation.<\/p>\n

Through the gift aid small donations scheme<\/a> charities can now claim a gift aid-style top-up on these small donations, up to a limit of \u00a35,000 per year. <\/p>\n

This limit will increase to \u00a38,000 per year from April 2016. <\/p>\n

3. An outreach team now helps charities claim tax relief<\/h2>\n

To date, HMRC\u2019s outreach team has delivered face-to-face presentations to over 650 represented charities to spread awareness, increase take-up, and help charities to successfully claim tax relief.<\/p>\n

\u00a04. Works of art donated to the nation now receive tax relief<\/h2>\n

The cultural gifts scheme<\/a> was introduced in 2013 and allows taxpayers to pay a tax bill by donating eligible works of art to the nation.<\/p>\n

5. People donating to charity in their will can now benefit from a lower rate of inheritance tax<\/h2>\n

If people leave at least 10% of the net value of their estate (its worth, minus any debt, other liabilities and reliefs) to charity, then 36% inheritance tax can be paid instead of 40%. This was introduced in 2012.<\/p>\n

\u00a06. Local amateur sports clubs can now claim gift aid on donations too<\/h2>\n

The government has amended the law so that local sports clubs registered as community amateur sports clubs<\/a> can receive corporate gift aid, to help these clubs to benefit their local communities.<\/p>\n

7. A new tax relief has been created to encourage investment in social enterprises<\/h2>\n

The social investment tax relief<\/a> scheme has been created to encourage people to invest in social enterprises, including charities. <\/p>\n

Individuals making an eligible investment will be able to deduct 30% of the cost of that investment from their income tax liability.<\/p>\n

Photo credit Howard Lake<\/a>. Used under Creative Commons.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The government is making it easier for charities to make the most of tax reliefs, so that more money can go to good causes.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/60655"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60655"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/60655\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}