Tax Efficient Support for Charities

Tax Efficient Support for Charities

Chris Davies Chris Davies

Chris Davies

Chartered Accountant helping ambitious entrepreneurs in the Thames Valley

发布日期: 2020年5月8日
+ 关注

With all our thoughts currently on the fantastic work that the NHS do, the amazing achievements of Captain (now Colonel) Tom Moore and the 75th VE Anniversary celebrations, many of us have been digging deep into our pockets and making donations to support the outstanding work that these charities do.

But are you aware of the generous tax benefits of doing so?

Charitable donations made under the gift aid scheme offer benefits for both the donor and the charity. A cash gift of ￡80 will result in a ￡20 uplift for the charity so the total donation would be ￡100. The donor receives tax relief of ￡20 and for higher rate taxpayers, the cost of making a ￡100 donation is only ￡60. The effective cost for additional rate taxpayers for those earning between ￡100,000 and ￡125,000 is even less!

If you didn't have enough reasons before, there is another one right there!

Keep giving and stay safe 

要查看或添加评论，请登录

Chris Davies的更多文章

  • What do the recent IR35 announcements mean to contractors?
    2022年9月28日

    What do the recent IR35 announcements mean to contractors?

    The announcement in the mini budget that the 2017 and 2021 amendments to the taxation of Off-payroll arrangements were…

    1 条评论
  • Government plans to back cryptoassets
    2022年4月5日

    Government plans to back cryptoassets

    As someone with a keen interest in the subject I was very interested to read the Government’s announcements concerning…

  • Why UHY?
    2021年4月1日

    Why UHY?

    After many months of hard work on all sides I am pleased to announce that Ross Brooke is now part of the UHY Hacker…

    1 条评论
  • Job Support Scheme. Who can claim and how much?
    2020年10月26日

    Job Support Scheme. Who can claim and how much?

    Under the terms of the original Job Support Scheme, businesses could be required to pay almost 60% of wage costs for…

  • What is the new Job Support Scheme?
    2020年10月4日

    What is the new Job Support Scheme?

    The Job Retention Scheme was due to expire at the end of October and the Chancellor has previously said that it would…

  • Many unnecessary redundancies could be avoided if the government takes some simple steps
    2020年7月27日

    Many unnecessary redundancies could be avoided if the government takes some simple steps

    The government has done a good job supporting many businesses throughout the Covid-19 crisis, but we now need greater…

  • Man's Best friend
    2020年6月25日

    Man's Best friend

    This year take your dog to work day falls on 26 June. Over recent years I have noticed more and more employers allowing…

    4 条评论
  • FREE Guide to the Coronavirus Government Support Schemes for Businesses
    2020年6月3日

    FREE Guide to the Coronavirus Government Support Schemes for Businesses

    Over the past 3 months the government has responded to the devastating financial impact of Covid-19 on businesses with…

  • Treasury considering helping SME's that pay dividends.
    2020年4月30日

    Treasury considering helping SME's that pay dividends.

    We’re delighted that the Treasury is urgently looking at ways to help business owners who pay themselves via dividend…

  • New 100% government backed loans for SMEs
    2020年4月28日

    New 100% government backed loans for SMEs

    In the past few weeks we’ve been calling on the government to provide further support for SMEs. We’re delighted that…

    3 条评论

社区洞察

其他会员也浏览了