Charity Tax Relief And Gift Aid Explained
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Sole traders and limited companies in the UK donate to charities to avoid higher taxes and enjoy charity tax relief. So if you are a UK taxpayer and donate to a charity, by making the Gift Aid declaration you allow the recipient charity to claim tax relief. Moreover, if you are a high rate taxpayer you can also reclaim some tax relief for you.
In this video, you will understand:
What is charity tax relief?: 00:13
What is Gift Aid? 00:23
How to claim Gift Aid and how it benefits a charity organisation?: 00:38
Rules to Qualify Gift Aid Relief: 00:54
How Relief Differs for Different Tax Bands?: 01:20
Gift Aid for Limited Companies: 02:11
How Can We Help?: 02:31
You also get to know how tax relief is different for you as a basic rate taxpayer and a high rate taxpayer.
For Detailed information on how charity tax relief and gift aid works read our comprehensive article:
https://chacc.co.uk/tax-blog/charity-tax-relief/
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