In Kind Direct calls for charity tax change
Monday 14 March 2011
Charities are missing out on millions of pounds because the UK's tax regime does not offer companies an incentive to donate their surplus goods, according to In Kind Direct. The UK corporate charity, founded by the Prince of Wales, is calling on the Government to introduce a more favourable tax system in the forthcoming Budget, to bring it in line with the US. It said such a similar regime would treble donations of excess goods.
Robin Boles, In Kind Direct chief executive, said: "Companies across the country have surplus goods, which charities desperately need, but the tax system does not provide an incentive for them to donate." Charitable giving by companies accounts for only 13 per cent of donations to charities. In the US it makes up half of all donations. Research by the charity shows a small change could bring in more than £1bn worth of goods to UK charities over 10 years.
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