CFDG sets out Budget demands

11th February 2008

The Charity Finance Directors' Group have submitted their recommendations to HM Treasury for the 2008/09 Budget. The headline recommendations address the diversity of issues facing the charity finance professional, and the particular concerns of CFDG members who manage £13.7 billion of charity income per year. The demands focus on key issues in tax, trading and giving.

CFDG advocates simplification in many areas, in order to prevent charities from being unfairly penalised by over-bureaucratic rules and regulations. The detailed proposals revisit and reinforce the joint Gift Aid proposal made in response to last year's HMT consultation; address the issue of Charities' irrecoverable VAT; review the regulations on trading and the sponsorship of charities; and review both the tax anti-avoidance legislation and its affect on substantial donors, and the regulations governing loss-making subsidiaries.

Kate Hand, Policy and Campaigns Officer at CFDG says, "The difficulties that trading presents for charities are not only against the grain of the Government's vision for the voluntary sector but fail to benefit the Government, since profits from trading subsidiaries are Gift Aided back to parent charities."

Keith Hickey, CEO of CFDG says, "It is critical that the Government takes account of the needs of a voluntary sector that plays an ever more critical role across a broad range of communities and services. The Government needs to look very carefully to the rules around Gift Aid, payroll giving and substantial donors, in order to make sure that charities are fully able to benefit from public giving."

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