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Three main changes have been proposed.

1. Relief for gifts of Real Property
Where an individual or company wishes to give land or buildings to charity, the Government proposes there will be an income or corporation tax relief for such donors. The relief will be available for gifts of freehold or leasehold property, which a charity agrees to accept.

2. Giving to Charity Through the Tax Return
The Chancellor has announced that, with effect from 2003/04 there will be new incentives to encourage taxpayers to give to charity when they make their annual tax return. The main incentives are:

  • advertising the facility on the tax return and making it easy for taxpayers to donate;
  • allowing higher rate taxpayers to carry back their portion of Gift Aid relief (18 per cent) to the previous year; and
  • allowing taxpayers to nominate a charity to receive all or part of a tax repayment that is due to them.

3. Community Amateur Sports Club (CASCS)
Sports clubs which meet the statutory definition will qualify for certain tax breaks. Also there will be tax relief provisions designed to encourage people to make gifts to CASCs.


Life policyholder taxation

Part assignments by way of giftOne of the changes made in Schedule 28 Finance Act 2001 was that an assignment of part of the rights under a policy by way of gift which takes place in a policy year which begins after 5 April 2001 will no longer be capable of giving rise to a […]

The Mortgage Business – 100% mortgage

The Mortgage Business 100%Type: 100% variableTracker term: Five-40 yearsTracker rate: SVR (currently 5.84%)Minimum loan: £35,000Maximum loan: £150,000Income multiples: 3 x income plus 1 or 2.5 x jointArrangement fee: £299Redemption fee: Three months’ gross interest in year one, two months in year two, one month in year three, one months’ notice or interest in lieu of […]

75th franchisee for Mortgageforce

Broker franchise group Mortgageforce claims to have achieved a staggering first year with the recent appointment of its 75th franchisee.Mortgageforce says it has successfully established a place in the market on the philosophy that franchisees are in business for themselves but not by themselves as they get support from Mortgageforce.It says franchisees are helped every […]

Liberty Ermitage – Japan Absolute Fund

Monday, April 15, 2002 Type: Sicav Aim: Growth by investing in Japanese hedge funds Minimum investment: Lump sum $15,000 share class A, $500,000 share class B Place of registration: Luxemburg Investment split: 100% Japanese hedge funds Isa link: No Charges: Initial up to 3%, annual 2% share class A, 1.5% share class B Commission: Initial […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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