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Tax avoidance and tax reliefs figure highly in Budget
By Helen Warrell and David Ainsworth, Third Sector Online, 12 March 2008
The Chancellor's 2008 Budget includes key announcements on new legislation for bond washing, substantial donors and community investment tax reliefs, in addition to the main announcement for charities on Gift Aid.
Alistair Darling has pledged to repeal “outdated and complex” anti-avoidance legislation surrounding bond washing, a trade that involves selling a bond just before the interest is due and buying it back within six months once the value has fallen. Until now, charities have been in danger of being charged tax...
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