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Registering a charitable trust to claim gift aid relief on donations.
Our clients Mr and Mrs Generous are considering setting up a charitable trust. The funds would come from Mr Generous’s anticipated earnings and capital gains over the next few years. Mrs Generous and daughters would be the administrators (presumably he means the trustees).
A query has arisen during our research: if the charitable trust is registered with the Charities Commission and HMRC could Mr Generous donate money to the trust and claim gift aid relief on this? The trust would then submit a gift aid tax claim to HMRC. This would be a genuine donation so the tainted donation rules do not appear to apply but can Taxation readers see any pitfalls we might have missed?
Query 19 062 – Puffin.
Reply by Jon Sparkes tax director Bishop Fleming
On the assumption that the charitable trust is registered with the Charities Commission and HMRC it will be...
