Tax efficient giving guide targets arts supporters

Arts & Business, the charity dedicated to increasing private investment in the arts, has launched an online guide to the tax implications for both donors and beneficiaries of charitable giving.

The guide, which has been set up in collaboration with the Department for Culture, Media and Sport and accountancy firm Deloitte, is designed to help donors give as tax-efficiently as possible.

It contains sections for both individual and corporate givers and discusses the tax benefits available to them, as well as ways in which they can maximise the value of their donations to charities via such schemes as Gift Aid and payroll giving.

The project is part of Arts & Business’s drive to encourage the UK’s large number of newly wealthy people to provide the arts with a “sustainable and predictable” income.

“As a sector, the arts need individual donors, fundraisers and wealth managers to recognise the importance of their contribution in the new funding mix,” said Colin Tweedy, chief executive of Arts & Business. “They can have as much fun giving away their money as they had getting it.”

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