Money matters: CCLA, share donations and the Welsh Social Enterprise Coalition

David Ainsworth's round-up of what's happening in the finance world.

Specialist charity investor CCLA has attracted £63m of investment from charities for a new ethical investment fund that was launched at the start of February. CCLA said the fund would exclude companies with poor ethical records and engage other investees in an attempt to improve their ethical stance in areas such as carbon reduction and human rights.

HM Revenue & Customs has asked charities to comment on new rules brought in to close down a tax avoidance scheme.The rules, introduced in December by Stephen Timms, financial secretary to the Treasury, are intended to close a loophole involving the donation of shares acquired from a third party at below market price, which the third party can buy back at a later date.

The Welsh Social Enterprise Coalition, a body to support the development of social enterprise, has been launched in Wales. It will be funded by £700,000 from the Welsh Assembly over the next four years. A website,, is in development.

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