Anyone who is involved in running a charity knows how different it is than running a business and the same goes for tax. Therefore, make sure you are aware of all the tax relief benefits available for charities!
Charities that are non-profit and recognised by the tax authority can benefit from certain tax reliefs, which massively helps in the running of a charity. However, you need to ensure you have a good understanding as it only takes one example of fraud or financial mismanagement for the charity to be dented!
We offer guidance in our latest blog to help you understand how the third sector is assessed for tax.
For more information, please see our latest guide today. Our guide gives helpful guidance on:
- Defining a charity
- Tax relief on gifts to charity
- Gift Aid
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