A report prepared by the Institute of Philanthropy has called upon the UK Treasury Department to conduct the most thorough review of tax concessions for charities since the term charity was first defined in the 17th Century.
This could mean that major charitable bodies, including many public schools may lose out on vital tax breaks but it could also result in other organisations such as sports clubs and some political lobbying groups receiving tax breaks that they have previously been denied.
The Accountancy Age news service has described the proposals as a 'can of worms' for Treasury ministers and they could be construed as a 'direct attack' on Britain's private schools. Chancellor Gordon Brown has already indicated plans to extend the tax breaks that charities currently enjoy to local sports clubs. A Treasury source has said that the ministers have not yet examined the proposals.
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