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Making your gift go further
Key points
- From April 2024 taxpayers will need to review if their charitable donations are going to UK or non-UK charities: legislative changes mean gift aid has now been restricted to UK charities only.
- Whether a charity is a UK charity or not is a question of fact; and any gift to the charity must not fall foul of any anti-avoidance legislation.
- Gift aid can help ‘restore’ a personal allowance where a taxpayer earns above £100 000.
- Individuals may wish to re-assess their charitable donations ahead of the April 2024 deadline to ensure that they are giving in the most tax efficient manner.
Gift aid exists to encourage individuals (which includes partnerships and sole traders) to make charitable donations.
Many taxpayers give to charity (or community amateur sports clubs which also qualify for gift aid) from a purely altruistic perspective but by properly utilising gift aid they...
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