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Charitable donations: Part 2
Key points
- Tax reliefs are not available for gifts and legacies to non-qualifying EU charities.
- The position for EU charities remains uncertain post-Brexit.
- It is suggested that planning should be implemented on the basis that only gifts and legacies to UK charities and to EU charities accepted by HMRC can benefit from relief.
- Non-residents should review their expected UK tax exposure after making donations (and gift aid declarations if leaving the UK).
- The US has its own tax relief regime for charitable giving.
In this article I will be looking at charitable reliefs and focus on international issues including non-UK charities and non-UK resident and non-UK domiciled taxpayers. This is a complex area and affected clients need to be well-briefed to ensure that they are not caught out by the potential traps.
The article does not consider the charity’s own tax position or the process for a charity to register...
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