Charity Finance Group releases briefing on Budget 2015

18th March 2015

CFG has released a briefing for charities on the impact of policy changes announced in today’s budget which you can read here (pdf)

Caron Bradshaw, CEO of Charity Finance Group commented on the Budget:
“This sounds like a budget where we’re going to need to read the background papers even more carefully than usual - with charity making quite an appearance in the budget speech. As always the devil is going to the in the detail but there were some welcome announcements for some of our sector.  Austerity pressure is going to continue, whoever forms the next government; particularly at a local level.

The rhetoric around clamping down on tax avoidance (whilst welcoming the sentiment) needs to be carefully monitored to ensure that charities do not lose out - charitable reliefs should not become an easy target.

The GASDS scheme increase is welcome but the real problem isn’t the amount of the cap - it’s the way in which the scheme is structured. We need a review of the scheme and its disappointing that hasn’t been brought forward.

The announcement that blood bikes will be included in VAT refund scheme, but this is a problem for the whole sector. We need the government to begin a discussion on how to take irrecoverable VAT so that as much resource as possible it put on the frontline.

We need to also watch the business rate relief reform to ensure that radical changes do not give rise to unintended consequences for charities and the contribution they make to their local communities.

So overall - some clear charity winners but some potential bear traps for the sector to be closely monitored.”

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