Tuesday, April 10, 2007

Charity News Alert - Charity Finance

Charity News Alert - Charity Finance: "Charity News Alert

Charities £236m a year poorer after changes to tax credits

Ian Allsop

HM treasury
The charity sector could have lost out on around £236m per year as a result of the Treasury’s decision to phase out dividend tax credits in the 1997 Budget, according to new figures released by investment managers CCLA.

The loss was incurred in spite of warnings made to the Treasury back in 1998, when CCLA, among others, alerted it to concerns that pension funds would not be the only victims of this change, with charities standing to lose 20 per cent of their UK investment income."

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