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The tax advantages of charitable giving and the Gift Aid scheme.
KEY POINTS
- The Gift Aid scheme applies to single and multiple charitable payments.
- A higher rate of relief can be obtained in specific circumstances.
- Community amateur sports clubs can also be eligible for Gift Aid relief.
- Gift Aid relief can be carried back but take care of the timing of the claim.
- Companies and partnerships can also claim relief.
At this time of the year our thoughts are often with those to whom we can be generous causing us to pass gifts or donations onto others. Newspapers and other media outlets will run campaigns on behalf of their nominated charities to remind us to think of them at this time of goodwill to all mankind.
For a number of years taxpayers have been encouraged...
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