On the whole, the Budget was a positive one for charities, with several specific targeted reliefs and grants being introduced, in particular new grants include:
- £65,000 per year for the next five years for air ambulance charities;
- £1 million per year for the next five years for inland safety boat charities; and
- £20 million for repairs to cathedrals.
As announced at Budget 2013 legislation will be introduced in Finance Bill 2015 to allow non-charity intermediates a greater role in operating Gift Aid. The Government also intends to work with the sector to encourage more donors to use gift aid and encourage smaller charities to register for reliefs they are entitled to. This includes putting in place a joint HM Revenue & Customs (HMRC)/Charity Commission application process, and reviewing the donor benefit provisions to achieve a simplification of the existing rules.
- Read KPMG’s general commentary on the 2014 Budget Report.