New Forest

30/10/2019

Gift Aid and donor benefits

Tax legislation limits the amounts of benefits that can be given to donors in relation to gifts made by individuals to charities, so that those gifts remain eligible for Gift Aid. Earlier this year the Finance Act 2019 simplified these rules, which in certain cases also increased the value of benefits that can be given to donors.

Under the new simplified rules which apply for gifts made to charities on or after 6 April 2019:

  • the benefit threshold for the first £100 of the donation remains at 25% of the amount of the donation, and
  • for larger donations, charities can offer an additional benefit to donors up to 5% of the amount of the donation that exceeds £100

There is an overriding limit on the value of benefits received by a donor in a tax year as a consequence of donations to a charity, which is £2,500.

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Many partners & the self-employed may have spent a few days a month working from home before the current crisis, but now almost everybody is working from home. There are a few small tax breaks for this, where you can claim tax relief on work related expenditure incurred.

SELF-EMPLOYED INCOME SUPPORT GRANTS
The amount of the grant is 80% of average profits for 3 years to 5 April 2019. The grant is capped at £2,500 a month for the initial 3 month period. This scheme has been extended for 3 months from 1 June but reduced to 70%, capped to £6750.

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