Tax Tips
We have 1 tip(s) under the heading CharitablePayments.
Tax relief is available at your top tax rate for payments made under the Gift Aid scheme. There is no minimum limit for gift aid payments and they can be a one off donation or a series of payments. To qualify for relief donors are required to make a declaration.
For example:
An individual is liable to tax at 40% and makes a cash gift to charity of £1,000. The tax position is:
Cash Gift £1,000
Basic rate tax treated as deducted (20/80) £250
Amount received by charity £1,250
Tax saved at 40% £500
Net cost to donor £750
Newsletter
Keep up to date with tax news that affects you.
Testimonials
The Guardian News Article
How to find an accountant to do your tax return
