Treasury written question – answered on 28 June 2022.
Lord Vinson
Conservative
To ask Her Majesty's Government how much tax is forgone annually by HM Treasury as a result of the tax exemptions for charities’ (1) donations, (2) investment income, and (3) gains on capital investments.
Baroness Penn
Baroness in Waiting (HM Household) (Whip)
Tax relief is available on donations to charity by individuals and organisations, and to charities for their activities, including investment income.
Estimates for tax reliefs on charitable donations by individuals are published in “UK charity tax relief statistics”. The table below is an extract from the latest edition, showing these estimates for the previous 5 tax years.
Extract from Table 1 and 2: Estimates for UK charities tax reliefs. Updated November 2021
Restricted to those reliefs for which accurate figures can be estimated
£m | Reliefs paid to charities | Reliefs paid to individuals | |||||
Tax Year | Gift Aid | Interest, royalties, trust donations etc | Payroll Giving | Gifts of shares and property | Higher Rate Relief on Gift Aid | ||
2016-17 | 1,270 | 30 | 10 | 660 | 40 | 60 | 410 |
2017-18 | 1,260 | 30 | 10 | 700 | 40 | 60 | 480 |
2018-19 | 1,350 | 40 | 10 | 800 | 40 | 70 | 500 |
2019-20 | 1,400 | 40 | 10 | 840 | 40 | 70 | 490 |
2020-21 | 1,380 | 30 | 10 | 860 | 40 | 70 | 490 |
Information about tax relief on charities’ investment income, and on charitable donations by organisations is not readily available.
Yes0 people think so
No0 people think not
Would you like to ask a question like this yourself? Use our Freedom of Information site.
