Article Database - Topic: 'Gifts' - Keyword: 'Charitable'

 
Is reducing your salary a tax trap? Publication date: 28.05.2020
Article database » Gifts » Charitable
Recent press reports warn directors and higher earners that if they reduce their salary to make donations to coronavirus charities HMRC will expect them to pay tax as if they were still receiving their full pay. Surely this can’t be correct?
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Can you claim a tax deduction for voluntary work? Publication date: 03.05.2018
Article database » Gifts » Charitable
Our subscriber’s company is involved in a project to help a local charity. It’s doing the work for free but will incur costs for materials and the services of employees who will be paid as usual. Will these expenses be tax deductible?
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More ways to claim gift aid Publication date: 09.06.2017
Article database » Gifts » Charitable
You’ve been contacted by a charity asking for regular donations but you don’t want to commit to this. However, you’re happy to make a one-off donation; there’s even a way to do this without using your cash savings. How does it work?
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HMRC clarifies tax break on gifts Publication date: 18.04.2016
Article database » Gifts » Charitable
HMRC clarifies tax break on gifts..Gift aid. If you’re a higher or additional rate taxpayer you can claim extra tax relief for charitable donations you make under the gift aid arrangements. This tax break applies to donations by individuals and not to those made by companies, organisations or groups of individuals. This has caused some newspapers...
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Gift aid or company donation, which is best for you? Publication date: 16.04.2015
Article database » Gifts » Charitable
If you want to make a donation to a charity and you’re a company owner, you could pay it personally or from your business. How do these methods differ and is one more tax efficient than the other?
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Tax relief allowed on entry fees Publication date: 14.10.2014
Article database » Gifts » Charitable
Tax relief allowed on entry fees.. Gift aid. You probably know that tax relief can be claimed for entry fees to certain zoos, historic buildings, etc. run by charities. However, they can only offer the gift aid option where they charge: at least 10% more than the normal admission fee; or the fee allows admission for at least twelve months. HMRC statement....
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A simpler and quicker way to claim tax relief for gifts Publication date: 22.01.2013
Article database » Gifts » Charitable
One of your staff has suggested setting up a payroll giving scheme. This sounds like extra work you can do without. But she says it’s simple to set up and can mean getting tax relief on charitable donations sooner. Is this right?
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Increased tax relief on charitable gifts Publication date: 14.05.2012
Article database » Gifts » Charitable
Increased tax relief on charitable gifts.. Tax relief oversight. HMRC’s consultation about capping income tax relief on charitable donations is a hot topic, and the national press is still ranting on about the possible consequences. Meanwhile, everyone seems to have forgotten that with effect from April 6 charitable giving was given a boost by means...
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A cap on all tax reliefs Publication date: 19.04.2012
Article database » Gifts » Charitable
A cap on all tax reliefs.. Outer limits. The Chancellor has announced that from April 2013 there’s to be an overall ceiling on tax reliefs for individuals. This is to be set at the greater of 25% of their taxable income or £50,000. However, the good news is that this won’t apply to tax reliefs which are already capped. So pension contributions,...
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Tax savings for the gift of shares Publication date: 08.02.2012
Article database » Gifts » Charitable
A recent high profile case is likely to see a fraudster locked up for creating a tax evasion scheme linked to charitable gifts of shares. This scheme was dishonest, but is the genuine version on which it was based worth considering?
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