Yesterday’s Budget was full of announcements that affect charities. Here are the key changes:
Third Sector understands that this is new funding for the Department for Digital, Culture, Media and Sport, with just over £100m pledged to charities in England and decisions about the remaining spending falling to devolved powers elsewhere in the UK.
There are no details yet on how or when the funding will be distributed, but DCMS said yesterday grants would focus on charities facing rising demand during the cost-of-living crisis.
The Chancellor said the cash would be used “to help the voluntary sector play an even bigger role” in suicide prevention.
There are no details yet on how the funding will be distributed.
The fund will be split in two, with £40m committed to helping community groups with “long-term energy efficiency” at leisure facilities and £21m to help them meet ongoing costs, according to the BBC.
The government’s Energy Price Guarantee, which is used to subsidise household energy bills, was set to finish at the end of March but will continue until June, the Chancellor said.
This was a key request by charity bosses ahead of the Budget as demand for help continued to rise amid higher costs and inflation.
Higher rates of tax relief for eligible culture and arts charities – such as large theatres and museums – were due to expire this year, but have been extended to 2025
SITR was introduced in 2014 to offer tax relief on some social investments in an attempt to increase the amount of capital available to social entrepreneurs. Some social investment experts have criticised the decision but ministers evidently do not feel the relief has achieved its aims.