This Content Was Last Updated on February 9, 2017 by Jessica Garbett
The Charity Commission has issued guidance for trustees considering tax arrangements.
It has stated in the guidance that ‘Trustees will …. risk scrutiny and potential investigation by the commission if they engage in tax arrangements which exploit tax legislation artificially’.
It also says that the ‘use of such arrangements is likely to be in breach of trustees’ duties and responsibilities to act prudently and in the best interest of the charity’.
The guidance also contains examples of previous arrangements that have been considered to be tax avoidance and in breach of trustees’ duties and responsibilities.
Article contributed by ACCA In Practice