Gift Aid Brain Teaser
Published on 13 December 2021 04:06 PM
Most people are familiar with the concept of Gift Aid, in short, Gift Aid means that charities can claim an extra 25p from the government for every £1 you give.
Higher rate and additional rate taxpayers should take note as they are also able to claim back 20% or 25% of the donation respectively via a tax return. For an additional rate taxpayer, a gift of £100 to a charity would end up costing £68.75. If the charity claims Gift Aid, they can end up receiving £125 in total.
Equilibrium have published an article called the Gift Aid Brain Teaser about how Gift Aid works, if you would like to read it you can click the button below.