Tag Archive: gift aid

Donate to charity and save tax

Posted 7th August 2019 at 7:15 am

Did you know that if you’re a higher rate taxpayer, you can claim tax relief on charitable donations you’ve made through Gift Aid? Most people know that the Gift Aid scheme allows charities to claim back the tax you’ve paid on your donation at 20%. So, for every £1 you give to charity, the charity can claim an extra 25p from HMRC without it costing you any extra. However, if you’re a higher rate taxpayer you pay 40% tax. This means that you yourself can claim the difference between the basic rate of tax claimed by the charity through the... Read more