Gift Aid

Can you believe that you are able to give £4,500 to charity by handing over less than £1,000?

This is possible by taking advantage of generous tax breaks which are allowable on donations of shares. It is estimated that 4 out of 5 investors have never heard of this, despite the fact that in Britain there are some 12 million shareholders and many are oblivious about tax concessions on share donations. However, gifting shares is of course, already an established form of charitable donation and is as easy as writing a cheque, with the exception that it costs much less due to the fact that the taxman provides contributions.

Should you wish to consider such an option and find out more, then either e-mail us or write to us directly.

Giving to Charity by businesses

There is fuller information in respect of this provided by the Inland Revenue (Clubs And Charities Series IR64). Your business can get tax relief on gifts to charity of:-

Money
Shares and securities
Assets
Employees time

In addition, you can also receive tax relief in respect of sponsorship payments to charity.

There are slightly different rules that may apply if your business is a company, partnership or sole trader.

We would be only too happy to answer any of your questions, or alternatively, you can ask any Inland Revenue Enquiry Centre or Tax Office.

If you would like to consider involving your company, please visit our company sponsorship section.

Giving to Charity by Individuals

You are able to gain tax relief on gifts to charities within the UK if you give under Gift Aid.

Individuals are able to make payments by cash, cheque, direct debit, standing order, postal order, credit card, debit card or even in a foreign currency (including the Euro). To make a donation, click here

There are of course a few rules although you are able to give any amount as either a one-off donation or on a regular payment basis under which the charity can reclaim the tax.

It is worth noting that if you are a high rate taxpayer you are able to claim relief on the difference between the basic rate and the higher rate of tax.

Please note that if you do not pay tax then you should not use Gift Aid.