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Concern over the administrative "burden" faced by charities relating to certain aspects of the present donor rules has prompted HM Revenue & Customs (HMRC) to launch a consultation into the matter.
The 2006 substantial donor rules place restrictions on the level of tax exemption charities are entitled to with so-called 'value extracting' transactions with donors.
According to the department, the rules were introduced as a means of preventing abuse of charity tax reliefs, rather than to "catch out" charities.
HMRC states following the introduction of the legislation, a number of charities have voiced concern that the new rules "are not targeted sufficiently accurately".
Consequently, the government is launching a consultation to address such concerns by reviewing the existing legislation and to take possible amendments into consideration.
Charity lawyers may be interested to know the deadline for responses to the consultation is October 7th 2008.
Last month, HMRC launched a consultation into proposals it put forward modernising the current tax administration and the creation of a new taxpayers' charter.
To find out more about our charity legal services, or to discuss a legal matter concerning your charity or not-for-profit organisation, please contact our charity law team on 01753 279059 or email charitylaw@bpcollins.co.uk.
