Encouraging more philanthropic giving to arts organisations was very much part of today's Budget.
The Chancellor George Osborne announced measures which, he said, build on culture secretary Jeremy Hunt's 10 point action plan for philanthropy.
They are:
• Reducing the rate of inheritance tax by 10% for those estates leaving 10% or more to charity, from a rate of 40% to 36%. "The relief is designed so that the benefit of the tax saving is reflected in the bequests received by charities and not in payments to other beneficiaries," said the Budget report.
• Getting rid of red tape and simplifying the administration of Gift Aid. Osborne said: "Instead of asking charities to submit a written record of every donation made, we will by 2013 pay for a much easier online system."
The Gift Aid benefit limits will also be increased from £500 to £2,500 so that charities and museums can recognise significant donors and "say thank you properly."
Osborne went on: "We will introduce a new scheme where Gift Aid can be claimed on small donations, up to a total of £5,000 a year per charity, without the need for donors to fill in any forms at all. That means Gift Aid on the contents of the collecting tin and the street bucket. 100,000 charities will benefit to the tune of £240 million."
• Consulting on proposals to encourage donations of pre-eminent works of art or historical objects to the nation in return for a tax reduction.
