Income tax relief cap will cut incentive to give to charity
Tuesday, April 24, 2012 | Posted by: Chris Tysoe
Categories:
Personal,
Protecting your wealth
| Tags: tax planning,
income tax,
budget,
charity,
tax relief,
philanthropy,
Budget 2012,
donations,
Chris Tysoe,
mansion tax,
cap,
income tax relief cap,
income tax liability,
restricting,
tycoon tax,
minimising
Organising your tax affairs in order to reduce your income tax liability may soon be curbed, in line with Government proposals to restrict income tax relief. But the proposed ‘tycoon tax’ is also causing a great deal of friction, as generous charitable donations by wealthy philanthropists look set to fall out of favour for tax planning (see Update on this at the end of the post). And they’re not the only ones adversely affected…
