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The voice of Scotland’s vibrant voluntary sector

Published by Scottish Council for Voluntary Organisations

TFN is published by the Scottish Council for Voluntary Organisations, Mansfield Traquair Centre, 15 Mansfield Place, Edinburgh, EH3 6BB. The Scottish Council for Voluntary Organisations (SCVO) is a Scottish Charitable Incorporated Organisation. Registration number SC003558.

Charity tax relief grows to £3.25bn

This news post is almost 10 years old
 

Charities benefited from an 8% increase in tax relief

Charities across the UK benefitted from £3.25 billion in tax relief last year according to the latest figures from HM Revenue and Customs (HMRC).

HMRC’s UK Charity Tax Relief Statistics show an 8% growth in tax relief in 2013/14. Business rate relief was the biggest single area of rebate at £1.59bn, followed by Gift Aid, which generated £1.06bn for UK charities last year.

Stamp Duty Land Tax relief provided £310m in income to charities and VAT relief amounted to £300m.

Individuals who gave to charities also benefited from over £1bn in tax relief, an increase in 5% on the previous year. This came mostly through inheritance tax relief and Gift Aid higher-rate relief.

The Gift Aid Small Donations Scheme, which was launched last year to help smaller charities more easily claim Gift Aid on small donations brought in just £7m to the whole UK sector, according to the figures. Chancellor George Osborne has claimed the scheme generate as much as £150m a year to charities.