For the tax year ending April 2021 tax reliefs for charities and their donors amounted to £5.69bn; this is a fall compared to the previous year’s figure of £5.82bn according to figures from HMRC.
The statistics reveal that gift aid at the basic rate of income tax paid to charities for the year fell 1% at £1.4bn while relief for donations at higher rates of tax paid to individuals is forecast to be down 2% at £0.5 bn.
Just over half of the value of gift aid repayments went to charities that received less than £1 million each which according to HMRC is in line with previous years.
The number of individuals declaring a donation through self-assessment is steady at just over 1.2m. The total value of their donations has grown fairly consistently since April 2014 standing at £3.7bn...
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