HMRC Has Just Launched a New Charities Newsletter
HMRC has published its first charities newsletter, aiming to keep charities updated on charity tax and HMRC developments of interest to them.
We are optimistic that, going forward, the HMRC newsletter will provide charities with helpful summaries and reminders on charity tax developments.
This first instalment of the newsletter, published on 5 June 2023, has focussed on the following:
- The restriction of tax reliefs and exemptions to UK charities with effect from 15 March 2023 or (for non-UK charities already registered with HMRC by that date) from 5 April 2024.
- The charities tax compliance consultation, which considers reform of tax rules to tackle non-compliance. Any charities or practitioners looking to respond to this consultation need to do so by the end of 20 July 2023.
- HMRC's review of Gift Aid, including the current processes for claiming Gift Aid by charities and the use of digital technology and new systems to improve Gift Aid processes.
The newsletter also includes various reminders, relating to updating details, changes to charity status, overpaid gift aid and GASDS.
Please see the first newsletter here - you can also use this link to sign up to receive alerts for future editions.
For more information regarding the new HMRC charities newsletter, please contact Gabriel Cohen in our Charities team on 0117 314 5661, or complete the form below.