Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to MrFahrenheit,SalvorHardin,Anonymous,johnhemming,Anonymous, for Donating to support the site

Gift Aid and Tax Paid

Practical Issues
Lemon Half
Posts: 6050
Joined: October 10th, 2017, 11:33 am
Has thanked: 1365 times
Been thanked: 2418 times

Gift Aid and Tax Paid


Postby Dod101 » May 6th, 2019, 5:33 pm

I have just filed my tax return online, having resolved to get it done early this year. However I got a shock because for the first time I can remember, the tax relief on Gift Aided donations has exceeded my liability to tax. Ah Yah! as the Cantonese are wont to say in such circumstances. I pay very little tax as my income comes from dividends and although they are not all protected from tax, I am moving in that direction. I usually have substantial CGT which absorbs the gift aided tax relief but last year there was little or none for various reasons.

Something to watch out for, and I must say that I did not realise that HMRC did the calculation so directly.


Return to “Taxes”

Who is online

Users browsing this forum: No registered users and 4 guests