Are you a UK taxpayer who has recently donated to various charities or charity events? Often, when you donate, you will see a little box that says ‘gift aid’. You can tick this box and add more money to your donation and ultimately to your charity, without an extra cost to you. If you are a higher rate tax payer you are entitled to a further tax rebate on charitable donations. When you require a Gift Aid Calculator to see how much money you’re owed from those taxes rebates, look no further than our simple yet effective website, Tax Reliefs.
With all donations, the basic rate of tax on each donation a UK taxpayer makes can be claimed by the charity. As donations are paid net of tax, the money you sponsor these events with or donate regularly can often be less than it should be; a percentage of that money will be removed and given to the government in tax. But, with the support of Gift Aid, charities and community amateur sports clubs can claim an extra 25p for every £1 you give – it won’t cost you anything extra, so it is always worth ensuring you check that gift aid box.
Charitable donations should be 100% tax free – if you’ve donated and you believe that you were entitled to Gift Aid, let us help you. We’ve seen many occasions where that additional 20% or 25% remains unclaimed, which is entirely unfair. We’ve seen it happen regularly; and with such regularity, it quickly adds up.
See the case study on our website, taken from Smith & Williamson.