Current tag: Finance

Charity Tax: George Osborne announces U-turn amid political pressure

Written on:May 31, 2023

Amid indications of another post-Budget climbdown from Coalition ministers, government has announced another major U-turn today, scrapping George Osborne’s so-called “Charity Tax” proposal. Charity Tax U-turn is the government’s fifth U-turn this weeks after U-turns on the pasty tax, the caravan tax and VAT on listed buildings alterations. But, the charity tax - a clampdown on tax relief for gifts - is the biggest till now, as the move was expected to raise £400 million for the…

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