Accountants urged to give good tax-effective giving advice
Howard Lake | 30 October 2003 | News
The Institute of Chartered Accountants in England and Wales (‘ICAEW’) has joined forces with The Giving Campaign to urge chartered accountants to advise their clients on tax-effective ways of giving to charity.
A free report has been produced by The Giving Campaign to help raise awareness amongst professional advisers of the tax-effective giving methods and to enable them to provide appropriate information to clients. ‘Making Gifts Go Further’ is a comprehensive guide to tax-effective giving,
providing explanations of Gift Aid, Payroll Giving, Share Giving, Charitable Trusts and Legacies.
Simon Williams, Campaign Manager, The Giving Campaign, said: “The Giving Campaign is working to encourage all professional advisers to give advice to clients about the tax implications of their charitable donations. We see no reason why advice on tax-effective giving should not become a regular component of the financial planning process. With so many people supporting charity on a regular basis, it makes sense for advisers to recognise giving as a mainstream activity and prompt clients about their charitable intentions.”
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David Illingworth, President of the ICAEW, commented: “The accountancy profession is in a position to make a real difference – by promoting tax-effective giving to clients we can help to increase the income to charities, while educating clients about the tax relief they are entitled to. I would urge all our members to discuss with clients the tax implications of their charitable gifts.”
The Giving Campaign recommends that regular client ‘fact-find’ sheets include a simple question on charitable giving, encouraging a more holistic approach to the financial planning needs of clients. By prompting clients to consider charity, accountants can extend discussions to build a deeper understanding and strengthen relationships with those clients.
‘Making Gifts Go Further’ is available at no charge from The Giving Campaign.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.