Campaign launched over Osborne’s personal tax relief cap
Fundraising, News.. — By TFNadmin on 30/03/2012 12:07 amA CHARITIES Aid Foundation-led campaign calling on the Chancellor to exempt charitable donations from a cap on personal tax reliefs has gained over 340 official supporters, including 171 organisations.
Give it back George was launched on 23 March following George Osborne’s Budget announcement, which included a cap on income tax relief which was previously unrestricted.
The new cap will limit relief to 25 per cent of an individual’s income or £50,000, whichever is greater.
This will affect charities through the gift‐aid tax relief.
The campaigning organisations advise that almost half of the £11bn given to charity last year came from just seven per cent of donors, and they warn that the cap will affect major donations as it will cost more to give to charity.
The campaign claims that the measure also brings a negative connotation to giving. A statement on its website said:“It’s framing tax relief on donations to charity as some sort of tax avoidance measure: it creates the impression that giving to charity is a bad thing.
“But unlike other tax reliefs, this is not for personal benefit: it still costs donors to give to charity.”
Tags: TFN 678 - 30 March 2012; Give it back George; income tax relief; cap; charitable donations
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