A&B launches online taxguide

A&B's tax guide, created in partnership with the DCMS and Deloitte, is launched as part of Arts & Business campaign to increase private giving to the arts in the UK. The recent growth in the number of newly wealthy individuals represents a new and potentially significant income source to the arts. Importantly, private individuals - wealthy or otherwise - can provide charities with sustainable and predictable income. There is still confusion around what tax breaks exist for giving to the arts and A&B is working to ensure more donors understand.

Colin Tweedy, Chief Executive of Arts & Business, said: "It has never been easier to give to the arts and the tax benefits have never been greater. It is Arts & Business' role to pass on this message to individual donors, fundraisers and wealth managers. As a sector, the arts need these people to recognise the importance of their contribution in the new funding mix - they can have as much fun giving away their money as they had getting it."

Arts & Business is working hard to demystify the tax incentives that exist for donors in the UK, working with arts organisations and wealth advisors to ensure that they can pass on accurate advice about existing tax benefits for giving. A&B's online tax guide is the first of a number of services designed to educate donors about the importance of their contribution to the sector and the efficacy with which they can make it." Tony Cohen, head of private client services at Deloitte, said: "The UK on the whole has a healthy attitude to giving, but many people don't realise that there are smarter ways to give. The tax reliefs available are comprehensive and generous and by taking advantage of these reliefs, both the donor and the arts world can significantly benefit."

Details: http://www.aandb.org.uk/taxguide