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Pay Debts Blog
Want to get out of debt, consolidate your debt, get a better loan or just learn some top money and debt rescue tips? We have financial advice here that will help you achieve your dream of being debt free. Absorb all the info on blog and join our site for articles and tips Consolidate Debts LoansPermanent link: Giving tax free to charity - Consolidate debt loans
Giving tax free to charity - Consolidate debt loans
Gift Aid If you pay tax in the UK, then Gift Aid is a simple way to increase the value of your gift to a charity at the tax mans expense, not your own. Making your donation using Gift Aid will enable the charity to reclaim the basic rate tax on your gift to them. This means that if you give £10 to charity using Gift Aid in the tax year 2005-06, that gift is worth £12.82 to the charity. You can make payments by cash, cheque, postal order, direct debit, standing order, debit or credit card or even in a foreign currency (including the euro). Subject to a few rules, you can give any amount, large or small, regular or one - off and the charity can reclaim the tax. Makcing whatever you can afford to give your chosen charity, go that little bit further. If you are a higher rate taxpayer, you can claim relief on the difference between the basic rate and higher rate of tax. If you do not pay tax, you cannot use Gift Aid. How does my gift qualify for Gift Aid? Your chosen charity will normally ask you to consider making your donation using Gift Aid. They will give you a simple form to complete declaring that you wish to make donations under Gift Aid.They should be able to supply any forms that you need. The charity can only reclaim the basic rate of tax if you have paid enough tax for the tax year to cover the amount reclaimed on your gifts. The tax year runs from 6 April one year to 5 April the next. This can be a lovely ay to ensure that you are doing your bit for your favourite charity, so do consider it. There are many, many worthwhile causes out there who could benefit enormously from you just filling in a couple of easy forms. Technorati Tags: Charity gift aid explainedPosted by Admin at 2006-09-17 17:16, Home
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