Charitable Giving - Tax Efficiently
Providing you are a Tax payer, Tax relief is available for donations to Charity. The main method nowadays is through the Gift Aid Scheme which replaces the old Deed of Covenant.
For every £ donated to the Charity under the Scheme the Charity can claim an additional amount from HM Revenue and Customs. This is now no minimal level of donation which requires to be given under this Scheme and the Scheme an apply to either one off donations or regular amounts of giving.
The Charitable Gift can be made by telephone or over the internet and the only details which the Charity needs to record are the name and address of the donor. If the donor is a higher rate Tax payer then additional Tax Relief is given to the donor under the Scheme.