Charities’ Tax Deadline Approaches
Friday 28 March 2008
The Charities Commission reminds charities their tax laws change on 1 July 2008.
"If charities want to keep their charitable-purpose tax exemptions they need to register with us as soon as possible," says Charities Commission Chief Executive Trevor Garrett.
"A year ago we launched the register; today we have over 2,900 registered charities and are receiving around 360 new applications a week.
"Charities make a valuable contribution to our society. They extend, encourage, support, and provide for our communities. It would be a shame to see their work go unrecognised or for them to miss out on tax exemptions because their applications are not sent to us on time."
Charities Commission Registration Manager Chris Winstanley warns it is not just a matter of "cobbling something together" as incorrect or incomplete applications cause delays and rework.
"Registering a charity is not simply a rubber-stamping process; it requires rigorous legal analysis to ensure the application meets the criteria of the Charities Act. The Commission currently has 25 registration analysts who are processing around 9,500 applications.
"Applications numbers are increasing as the deadline draws near. We are currently processing applications received in October. Once they reach the front of our queue, straightforward applications are generally processed within several days, but complex applications take longer," she says.
"If charities are unsure about their application they should get it in as soon as possible so any problems can be worked through with them before the cut-off."