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| Gift Aid tax regulation change 'will allow EU charities to claim' |
New changes will allow organisations to claim gift aid on UK donations anywhere within the European Union (EU), which will increase the number of occasions where the tax on these can be reclaimed.
The Chartered Institute of Taxation has praised this decision, suggesting that this will allow charities based in EU countries to take advantage of this scheme in the UK without needing to set up a UK entity.
It stated: "Any extension of Gift Aid is to be welcomed and this extension to cover charities established elsewhere in the EU is something we have long argued for."
The organisation suggested that this was one of the areas of UK tax law that breached EU rules and could lead to an overall simplification of these regulations.
Earlier this week, HM Revenue and Customs announced that it was relaxing the restrictions on Foreign Tax Credit Relief in order to allow companies to deduct the full amount from the quantity of UK tax paid on chargeable gains.
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