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Isa plan could boost charities

The Giving Campaign, an organisation established to encourage charitable donations, believes charity Isas could prove popular for good causes to get funding in the UK.

The research, carried out by Henley Management College last spring, looked at the possibility of forming partnerships between charities and the financial services sector to encourage charitable giving alongside general tax and financial planning.

Conclusions drawn from six consumer focus groups and a one-day workshop for 30 senior voluntary sector and financial services figures indicate that Isa-style pooled savings with a charity element would be well received by consumers at the younger, sophisticated end of the market.

Charity Isas would allow savers to donate a portion of the growth in their investment to a chosen charity. In the US, over 40 per cent of income in the charity sector comes from various forms of planned giving financial products.

TGC says that thanks to the advent of payroll-giving schemes, the scrapping of the limit on Gift Aid and the introduction of concessions for the donation of stocks and shares to charity in this country, there is now more potential for partnerships between charities and the financial services sector.

Holden Meehan marketing director Graham Hooper says: “The planned giving market is a virtually untapped arena in the UK and yet in the US it is a multi-billiondollar market.

“This call for planned giving product development offers the financial industry with an ideal opportunity to get involved in a whole new investment market while emb-racing our corporate social responsibilities.”

A free summary of The Future of Giving can be obtained from admin@giving campaign.org.uk or downloaded from www.givingcampaign.org.uk.

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