Archive:December 2024

Plans to change tax compliance rules for charities are moving forward, as the new Government picks up proposals for
reform to prevent misuse.

The previous Government had created proposals to prevent donors from obtaining a financial benefit from their contributions and stop wrongful use of charitable investment
rules.

The changes also included introducing sanctions for charities failing to meet their filing and payment obligations.

After a widespread consultation receiving responses from charities, law firms, businesses and other bodies, the new Government has announced it will move ahead with the plans,
though…

Tax rules for individuals and companies using alternative finance are to change. The Government released plans for reform on the day of
the Autumn Budget, with the aim of simplifying the tax treatment of alternative finance and, in particular, refinancing arrangements.

The objective of the policy is to “ensure a level playing field across conventional and alternative of finance,” the Government said.

In the policy paper, officials noted that these changes will ensure “where an existing asset is used as a means to raise finance using alternative finance, the tax…