Charities

Charities have many advantages by law. Their income is usually tax free, and gifts to charity by individuals will be exempt from Inheritance Tax and Capital Gains Tax. In truth, however, to preserve these benefits, charities have to accept detailed regulation by law and the supervision of the Charity Commission.

However

there are detailed tests for what is, and what is not, charitable in law
the various tax reliefs are carefully monitored by H.M. Revenue & Customs
charities are required to file accounts and annual returns with the Charity Commission
trustees and directors of charities have burdensome duties and responsibilities and may find themselves exposed to official scrutiny and even personal financial risk
charities buying, selling or leasing property must follow detailed rules

We accept that charities play an increasingly vital role in modern society and are willing to advise as required.

Stephen Gallico Solicitors is authorised and regulated by the Solicitors Regulation Authority (Registration number: 386696).
A copy of the Solicitors’ Code of Conduct 2007, which sets out the rules of professional conduct which apply to solicitors, is available on the Solicitors Regulation Authority website: http://www.sra.org.uk.

Our professional indemnity cover is with Zurich Insurance plc of The London Underwriting Centre, 3 Minster Court, Mincing Lane, London EC3R 7DD. The territorial cover of our policy is worldwide.