Responding to news today that the government no longer plans to limit tax relief on charitable donations, Chris Morgan, head of tax policy at KPMG in the UK, said:
“This is really good news for charities, it shows the Government is listening and shows the benefit of taxpayers proactively engaging with Government. Today’s rethink removes what would have been effectively a tax on charities.
“Many charities are increasingly looking to bolster voluntary income in the face of statutory funding pressures and low investment returns, so the removal of the cap is critical in encouraging giving. And for some - arts and heritage charities, for example - private donations are often core to their survival.”
For further information please contact:
Margot Cowhig, KPMG Corporate Communications
Tel: 0207 694 4246 Mobile: 07920 274856: email@example.com
KPMG Press Office: 0207 694 8773
Notes to editors.
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.