Charity exemption to new Diverted Profits Tax

The Charity Tax Group has welcomed confirmation that the Finance Bill, which implements many of the recent Budget announcements, includes a charity exemption from the new Diverted Profits Tax. Without this, it was possible that charity trading subsidiaries or similar arrangements, where companies make donations to parent charities under gift aid, would lead to tax bills.

See Civil Society News item or CTG’s press release for more. See our earlier coverage for other Budget 2015 items.