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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.

Unlocking assets could free £1bn for charities

 

Call made by leading body

Hundreds of millions of pounds could be unleashed to support charities hit by the coronavirus crisis, according to new analysis by the Charities Aid Foundation (CAF).

A report published today recommends a raft of measures to unlock charitable assets, harness unclaimed Gift Aid and stimulate new giving to vital causes hit by the deadly outbreak.

CAF, which grants more than £650m to charities each year, puts forward recommendations for government, regulators and charities to unlock vital cash needed to support charities during the current crisis and rebuild support once the virus abates.

Proposals include: temporarily remove the need for people to make a Gift Aid declaration in order for the charities to receive the 25% additional benefit on every donation; introduce living legacies which allow people to bring forward the kinds of gifts; unlock the assets of the £500m National Fund; and ease efforts to release millions in unused cash from dormant charities.

The proposals could significantly supplement the £750m Government aid package for charities announced by chancellor Rishi Sunak in support of the front line response to coronavirus amid increasing demand for charities and falling income.

Rhodri Davies, CAF’s head of policy, said: “In these times of crisis we need to employ radical ideas to bolster the charities which are an integral part of life in the UK. These proposals include elements which, in normal times, would not be considered but these extraordinary times call for extraordinary measures to help protect the invaluable work of charities.

“The chancellor recently brought forward welcome and important support for charities but was clear that he couldn’t intervene to help them all. We hope these bold ideas will be taken up by Ministers, regulators and our colleagues in the charity world to unleash support that we need now to keep charities alive for the future.

“The contribution of charities has never been more evident and every course of action we can take to ensure they will be there to continue helping society’s most vulnerable needs to be considered at pace.”

 

Comments

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Liza Hollingshead
10 months ago
Will Charities Aid Foundation release the Gift Aid on donations made by CAF donors to the charities they support? This would make a huge difference to small charities, Liza Hollingshead Executive Director Ecologia Youth Trust