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HM Treasury written question – answered on 21st July 2017.

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Photo of Baroness Armstrong of Hill Top Baroness Armstrong of Hill Top Labour

Her Majesty's Government whether they have considered the introduction of fiscal incentives to encourage more philanthropic giving from wealthier members of society.

Photo of Lord Bates Lord Bates The Minister of State, Department for International Development

The Government already provides a range of generous tax reliefs for the charity sector, worth over £5 billion including £1.5 billion of relief to individuals in the tax year 2016-2017. This includes higher rate tax relief on donations by higher and additional rate taxpayers, worth £520 million, and relief on gifts of shares and property, worth £70 million. Individuals can also get generous tax reliefs if they invest in a social enterprise including a charity, using the social investment tax relief scheme.

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