I realise that giving to charity and signing 'gift aid' enables the charity to collect an extra from government...some 25% ish
what, if any is benefit of declaring those gifts on SAYE return...there seems to be a separate page for it...
is it only relevant for higher rate tax payers?
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gift to charities
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- Lemon Quarter
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- Lemon Half
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Re: gift to charities
Unless the resulting increase in personal allowance keeps you out of higher rate tax, there is no advantage to you.
I don't know what HMRC does with the information, but there may be some reconciliation made with what charities claim and what you report. Mainly to ensure that the donations, for which they claim Gift Aid, do in fact come from taxpayers.
TJH
I don't know what HMRC does with the information, but there may be some reconciliation made with what charities claim and what you report. Mainly to ensure that the donations, for which they claim Gift Aid, do in fact come from taxpayers.
TJH
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- Lemon Quarter
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Re: gift to charities
I make donations under the Gift Aid scheme and, as the Treasurer of a charity, reclaim Gift Aid from HMRC. So I can see the processes from both ends.
I doubt that any matching of donations to reclaims is done, except perhaps in the case of a formal HMRC investigation into a taxpayer's affairs. Otherwise, not quite enough information is collected to make such matching straightforward.
One thing that is not required when making a Gift Aided donation is the donor's National Insurance number. With that one extra piece of information it would make it trivially easy for HMRC to set up a system to compare donations made with donations claimed.
Watis
I doubt that any matching of donations to reclaims is done, except perhaps in the case of a formal HMRC investigation into a taxpayer's affairs. Otherwise, not quite enough information is collected to make such matching straightforward.
One thing that is not required when making a Gift Aided donation is the donor's National Insurance number. With that one extra piece of information it would make it trivially easy for HMRC to set up a system to compare donations made with donations claimed.
Watis
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- Lemon Half
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Re: gift to charities
Watis wrote:One thing that is not required when making a Gift Aided donation is the donor's National Insurance number. With that one extra piece of information it would make it trivially easy for HMRC to set up a system to compare donations made with donations claimed.
It's the same with bank account information. All banks have to supply it to HMRC, but without the NI number as a reference it's unlikely they do a systematic reconciliation on name/address/dob only.
Scott.
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