Making your gift go further
Every penny you donate to charity makes a difference.
But did you know that you could be making an even bigger
difference, without any extra cost or complication?
In the UK, donations can be worth an extra 28% – which is great.
But not everyone knows this, and charities are estimated to be
losing up to £700m per year in unclaimed
Gift Aid
. That's where we come in.
For many charities, the administration involved in claiming Gift
Aid is prohibitively expensive, especially for small charities
claiming small amounts.
We provide a range of services designed to make sure that your
donations to charity are
tax efficient
– which results in more money for charities,
and in some cases, tax breaks for you.
Gift Aid
Gift Aid
allows charities to reclaim the basic rate tax you
have already paid on the money you donate. It can increase the
value of your gift by up to 28p on every pound.
You just have to complete a declaration saying that you pay
enough tax to cover what the charity will reclaim from HM Revenue
& Customs.
And it gets better. If you are a higher rate tax payer, you can
also claim back the difference between basic and higher rate tax.
That means that for every pound you give away, you can get 18p back
from the taxman – which you can keep, or give to charity. So the
taxman could actually reward you for your generosity!
Find out about opening a CAF Charity Account
funded through Gift Aid
Find out about starting a CAF Trust funded
through Gift Aid
Giving through your payroll
If your employer offers a payroll giving scheme such as
Give
As You Earn, your donation to charity can be taken from your
salary at source, before it’s taxed. This way, a donation of £10 a
month effectively ‘costs’ £7.80. For higher tax rate payers, that
same £10 donation would ‘cost’ a mere £6.
Find out more about Give As You Earn
Giving shares
If you want to give shares to charity you could earn a
double tax benefit – your gift will be exempt from Capital Gains
Tax, and you can also reduce your taxable income by the market
value of the shares. For example, if you are a higher rate taxpayer
and donate shares valued £1,000, you could claim up to £400 Income
Tax relief as well as saving up to £400 in Capital Gains Tax.
Discover the extra tax breaks available on gifts of
shares
Other non-cash gifts
If you give land or personal assets such as works of art to
charity, you’ll be exempt from Capital Gains Tax on the value of
the assets you give. You may also be able to claim a deduction of
the value of the gift against your taxable income for gift of
land.
Contact us on
03000 123 028 to discuss your
personal circumstances