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Issue:
4894
/
Categories:
Comment & Analysis
, CASCs
, charitable status
, charities
, charity incorporated organisation
, EU
, European economic area
, IHTA 1984
, International
Uncharitable cut
Key points
- EU and European Economic Area charities and community amateur sports clubs (CASCs) are no longer eligible for UK charitable tax reliefs.
- Taxpayers who wish to make gifts to EU and EEA charities should reconsider the amount of their donations to take account of the lack of UK tax reliefs.
- Transitional arrangements may provide breathing room for some UK donors.
- Donations will now be chargeable lifetime transfers.
- The withdrawal of relief for donations to EU and EEA charities and CASCs could have ramifications for individuals who have included charitable legacies in their wills.
A small change in the Spring Budget could have potentially significant consequences for taxpayers making gifts to charities in their wills. With little fanfare UK charitable tax reliefs were quietly withdrawn for European Union (EU) and European Economic Area (EEA) charities and community amateur sports clubs (CASCs) on 15 March 2023 with only very...
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