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Thursday, May 31, 2012

Another Govt U-Turn this time On Charity Tax Relief Plans

The Treasury has announced the cap on tax relief for charitable donations proposed by George Osborne in the Budget is to be dropped.

The controversial plans were criticised by charities that warned they could lose a significant proportion of their income.

The move is the latest in a string of Budget climbdowns, which this week included a U-turn on the so-called pasty tax.

In a statement, the Chancellor said the Government had "listened" to concerns over the capping of relief for those who give money to charity.

"It is clear from our conversations with charities that any kind cap could damage donations, and as I said at the Budget that's not what we want at all," Mr Osborne said.

More to follow...