Chartered Management Accountants | Milton Keynes
Gift Aid allows charities to reclaim tax paid by UK individual taxpayers on any donations to UK charities. This is effected through a simple declaration and can increase the value of the donation by 25%. Thus for:
|Donation of||Treated as gross gift of|
The maximum benefit a donor may receive in return for a charitable donation is as follows.
|Amount of donation||Value of benefit|
|£0 – £100||25% of the donation|
|£101 – £1,000||£25|
|Over £1,000||5% (up to max £2,500)|
Employees may authorise participating employers to deduct donations from their gross salary for forwarding to their nominated charities.
Employees receive tax relief in full on their donations.
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