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,
donations,
Chris Tysoe,
Budget 2012,
mansion tax,
income tax liability,
cap,
tycoon tax,
minimising,
restricting,
income tax relief cap
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. And they’re not the only ones adversely affected…
