Have you ever made a donation to charity? Of course you have! But did you do it in the right way? In other words, did you take advantage of the fact that making charitable donations can help both you and the charity to benefit from tax relief?
The Government is surprisingly generous when it comes to helping you give to charity. Essentially, as long as you’re a taxpayer you can plan your giving to ensure that UK charities can reclaim basic rate tax on any donations. If you’re a higher rate taxpayer, that you can even reclaim part of the tax paid on your contribution. Unfortunately, less than a quarter of donations are made in a planned and regular fashion so charities are missing out a great deal and so are the donors….