Failure to meet Fit and Proper persons tests can negatively impact on a Charity’s tax beneficial statusPosted: February 13, 2012
Are you working for or involved with a Charity?
If you are, you need to be aware of the new “fit and proper” test that HMRC will apply for the purposes of the management condition as set out in the Finance Act 2010, which applies to Charities.
There have always been a number of tests which Charities have had to meet in order to secure the very beneficial UK Charity tax reliefs. We now have one more added to the list.
Failure to meet this new fit and proper person test could be very costly for a Charity. In these difficult economic times when securing funding and donations is difficult for Charities protecting their entitlement to the very favourable UK Charity tax reliefs is critical.
If you would like further information on this please contact Sharon Keown ATII.