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| GIFT
AID ROW OVER LOOPHOLE CLOSURE NOT AFFECTING ALL GROUPS |
20/01/04 |
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Plans
to stop private owners of stately homes from claiming gift aid on entrance
fees could be unfair, as others may continue to benefit, it has been claimed.
Charity-specialist accountancy firm Saffery Champness says that, although
some charity-status owners of stately homes will lose out if the gift aid
loophole is closed, those with a membership scheme such as the National
Trust, will not suffer.
It says the Trust could continue to claim gift aid on its members' subscriptions,
which provide free entry to all properties registered with it.
Many heritage groups have been allowing day visitors free entry to their
properties in return for a donation that attracts gift aid. This enables
the owners to claim back the basic rate of tax of the donation from the
Treasury, equivalent to 28 pence for every pound donated.
But the Chancellor announced in his pre-budget report that he intends to
close this > "loophole" in the legislation.
Martin Webster, estates partner at Saffery Champness, says: "The closure
of this tax loophole would create a clear inequality if private owners were
denied gift aid relief from visitors while the National Trust continued
to benefit.
"This would have a negative impact on the financial position of private
owners and jeopardise the upkeep of their properties. Any changes in gift
aid legislation should ensure an even playing field for all the owners of
stately homes."
Click
here to read a response from the Inland Revenue to this news story
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