2 articles tagged with Gift Aid Relief.
When you donate through Gift Aid, the charity reclaims 20% from HMRC — but if you pay 40% tax, you can claim the other 20% for yourself. Here's how and how much it's worth.
A Gift Aid donation pushes the top of your 20% basic-rate band higher, so a higher-rate taxpayer reclaims 20% on the gross gift. Donate GBP 800 net and a GBP 1,000 gross gift can cut your tax bill by GBP 200.