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The Accountants for Growth

Can I Gift Aid?

Can I Gift Aid?
In recent years the government have made several tax changes that have taken individuals out of the tax system  – changes such as: -
  • The first £2,000 of dividend income is not taxed
  • The first £1,000 of savings income is not taxed
  • Personal tax allowances currently stand at £11,850
  •  
  • Many taxpayers have invested in ISAs where any income on the investment is tax free
  •  
It is now estimated that 50% of adults currently do not pay any tax as a result of these changes.

How does this impact gift aid payments?
When making gift aid payments you need to make sure that you have paid enough income (or capital gains) tax in each tax year to equal or exceed the Gift Aid tax on the Gift Aided donations.

If you have not paid sufficient tax, it is your responsibility as the donor to make good any shortfall.
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