Published on 01 June 2012 02:30 PM
Age Cymru responds to the Charity Tax U-turn
Age Cymru’s Director of Income Resources, Richard Nicholls says:
“Age Cymru was an outspoken critic of the charity tax.
“The public debate about the charity tax focussed on the bigger individual donations - big, one-off donations, which are usually the preserve of universities, museums and the very biggest charities in the UK.
“There was also a lot of talk about tax avoidance tactics of the super rich, and so the public debate largely overlooked two important points that could have adversely affected Welsh charities.
“Smaller individual gifts could have been snared up in the cap on tax relief - if over time these exceeded the tax limit donors still wouldn’t have had the tax relief, so it’s likely that charities receiving smaller donations would have been impacted.
“The majority of the very big donations that are made go to grant making foundations and the change in tax on donations could have prevented the very big donors from adding to these pots, which in turn would mean less money for charities later down the line.”