British Charities Face Penalties on Investments

Stepped-up enforcement of a decades-old British law intended to prevent investors from dodging taxes has caused big penalty fees to be imposed on charities in Britain, reports the Financial Times.

Charities could owe millions of pounds because of the new enforcement effort, the London newspaper reports.

Organizations that have received notice of penalty fees say they did not think they had to worry about the investment rules because they are tax-exempt. However, a British government official said charities should be more aware of the laws governing investments and take steps to follow them.