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Many people in the UK give money to charity, but not necessarily in the most tax-efficient way. This section provides practical information about giving to charity within the UK and the benefits of giving tax-efficiently. There are a number of ways in which you can give money to charities and obtain tax relief on your gift. These include:
- making a one-off gift of cash (Gift Aid);
- making regular contributions from your earning - 'payroll giving';
- setting up your own charitable body; and
- leaving a legacy in your Will.
By giving money tax-efficiently, either you or the charity can claim back the tax you would have paid on your income. This means that, without it costing you more, the charity can receive more. And, if you obtain the tax relief, you might be able to afford to give more to your favourite causes.
With gifts of shares and land, you may be able to afford even more as you may be able to claim back capital gains tax.
© Copyright 2007 Association of Charitable Foundations (ACF)
Every effort has been made to ensure that the information provided in A Guide to Giving is current at the time of publication (October 2005), but the Association of Charitable Foundations (ACF) cannot guarantee its accuracy. Furthermore, there may have been subsequent changes to legislation, policy and/or to tax bands and rates. If you are considering any investment you should seek appropriate professional advice. This guide is not intended to replace professional advice on particular investments or the manner in which tax relief is applied under any scheme, and you should not rely on it for such purposes. You are responsible for your own tax and financial affairs and so should seek independent advice. ACF can not accept responsibility for the investment choices you make.
Views expressed in A Guide to Giving are not necessarily those of Philanthropy UK or the Association of Charitable Foundations.
Coutts & Co is not responsible for the content of A Guide to Giving, and the content does not constitute any advice whatsoever from Coutts & Co. The case studies and profiles within the Guide are not necessarily clients of Coutts & Co. Coutts & Co shall not be liable for any loss whatsoever arising from your reliance on any information produced in the Guide.
