Charities are registered with Charities Services under the Charities Act 2005.
They are set up to hold money or assets and carry out activities for the benefit of the community. They must be formed for one or more of the following purposes:
- The relief of poverty.
- The advancement of education.
- The advancement of religion.
- Other purposes beneficial to the community. (This particular category requires that you show an objective benefit to a sufficient section of the general public)
Charities gain tax benefits when approved by the IRD. These tax breaks include the absence of duty on gifts to the trust and the absence of tax on income earned by the trust.
At Martin Wakefield Ltd we understand the practicalities of charities. Our experience in this area enables us to assist you with setting up a charity and using its structure in the most effective way to reach your charitable goals.
If you would like to consider Martin Wakefield please do not hesitate to contact us. We are happy to provide a free, no obligation and independent assessment of your needs.
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