5 December 2013
Commenting on proposals to clarify the definition of charity to
fight tax avoidance, John Low, Chief Executive of the Charities Aid
Foundation, which promotes charitable giving and provides financial
services and social finance to not-for-profit organisations,
said:
"It is vital to ensure that charities enjoy public trust. We are
committed to ensuring that generous tax relief on donations goes to
legitimate good causes and is not siphoned off into tax avoidance
schemes.
“The Charities Aid Foundation remains committed to working with
the Treasury and HMRC to ensure abuse is identified and
eradicated.”
Commenting on the ongoing review of Gift Aid, Dr Low added: "It is good news that
the Government remains committed to simplifying Gift Aid. We have
long called for reform to make it easier for people to add Gift Aid
to all their donations whether via smartphones, tablet computers or
more traditional methods.
“Gift Aid is vital for charities, but it simply isn’t fit for
purpose in the 21st century. By bringing it up to date, charities
stand to gain potentially hundreds of millions of pounds a
year."
Commenting on the Chancellor's announcement that he will
introduce a new tax relief for investment in social enterprises
from April, Dr Low, added:
"It's excellent news that the Government is introducing a new
tax relief for investment in social enterprises. As a charity which
pioneered social
investment, we know first hand the huge social impact investing
in innovative projects can make.
"It is important that social investment becomes an integral part
of Britain’s world-leading financial services.
"Charities and social enterprises must take advantage of the
economic recovery to support vulnerable and disadvantaged people in
our communities. Many social purpose organisations need investment
to expand their services and make an ever greater difference to the
lives of millions of people."
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