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CHARITIES
How can an organisation become recognised as a Charity <ul><li>To be able to claim that an organisation is a Charity, it n...
Charities are classified into four categories. <ul><li>All charities must exist solely for the benefit of the public.  </l...
STRUCTURE <ul><li>Charities can be  </li></ul><ul><li>Companies </li></ul><ul><li>Trusts </li></ul><ul><li>Associations or...
Formal documentation required <ul><li>company limited by guarantee  Memorandum and Articles of Association is required </l...
What are the tax advantages of being recognised as a charity?  <ul><li>A body that is a recognised Scottish Charity will n...
ADVANTAGES TO DONORS <ul><li>Benefits for individual donors are income tax, capital gains tax and inheritance tax relief f...
Who are the trustees of a charity? <ul><li>The charity trustees are the people responsible under these rules for controlli...
Question <ul><li>All charities  must exist solely for the benefit of the public.  Under what circumstances might an organi...
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4 Charities

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Transcript of "4 Charities"

  1. 1. CHARITIES
  2. 2. How can an organisation become recognised as a Charity <ul><li>To be able to claim that an organisation is a Charity, it needs to have been recognised by HMRC as a charity for tax purposes. </li></ul><ul><li>To decide whether or not an organisation is a charity, the Registrar of Charities apply tests laid down by the Courts. </li></ul>
  3. 3. Charities are classified into four categories. <ul><li>All charities must exist solely for the benefit of the public. </li></ul><ul><li>For the relief of poverty or for the needs of aged and disabled people. </li></ul><ul><li>For the advancement of education. </li></ul><ul><li>For the advancement of religion. </li></ul><ul><li>For other purposes beneficial to the community. (this could include sports and recreation) </li></ul>
  4. 4. STRUCTURE <ul><li>Charities can be </li></ul><ul><li>Companies </li></ul><ul><li>Trusts </li></ul><ul><li>Associations or societies </li></ul>
  5. 5. Formal documentation required <ul><li>company limited by guarantee Memorandum and Articles of Association is required </li></ul><ul><li>If it is a trust - trust deed. </li></ul><ul><li>If it is an association or society – a copy of the constitution. </li></ul>
  6. 6. What are the tax advantages of being recognised as a charity? <ul><li>A body that is a recognised Scottish Charity will normally be exempt from </li></ul><ul><li>income tax, </li></ul><ul><li>corporation tax </li></ul><ul><li>capital gains tax </li></ul><ul><li>on most of its income and gains. </li></ul>
  7. 7. ADVANTAGES TO DONORS <ul><li>Benefits for individual donors are income tax, capital gains tax and inheritance tax relief for giving money or assets. </li></ul><ul><li>For companies, there are relief from corporation tax and capital gains tax for giving money or gifts in kind. </li></ul>
  8. 8. Who are the trustees of a charity? <ul><li>The charity trustees are the people responsible under these rules for controlling the management and administration of the charity, regardless of what they are called. </li></ul><ul><li>oxfam .doc </li></ul>
  9. 9. Question <ul><li>All charities must exist solely for the benefit of the public. Under what circumstances might an organisation be awarded charitable status? (4) </li></ul>
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