Charitable tax reliefs worth £3.34bn in last tax year

HM Revenue & Customs figures show they increased by 3.7 per cent on the previous year

HMRC
HMRC

Tax reliefs for charities and donors were worth £3.34bn in 2010/11,according to HM Revenue & Customs – an increase of 3.7 per cent on the previous year.

Figures published last week, which confirm predictions set out earlier this year by HMRC, show charities received £2.56bn in tax relief, up from £2.48bn 2009/10.

The figures include £1.1bn in Gift Aid, up from £1.03bn in the previous year, and £1.16bn in business rate relief, up from £1.14bn in the previous year. Reliefs for donors rose to £780m from £740m.

The largest personal reliefs were inheritance tax relief, up to £340m from £320m in the previous year, and higher-rate relief on Gift Aid, up to £350m from £330m.

VAT reliefs were estimated to be worth £200m, but this figure is rounded to the nearest £50m and has remained unchanged since 2003.

HMRC also restated the value of tax reliefs for the previous year, which it previously estimated as worth £3.05bn.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus