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Whats the deal with charitable donations and tax, im confused about the matter, i overheard someone say they were 40% deductable, but im at a loss when it comes to tax etc.
Posted : 17/02/2009 9:57 pm
Have a look at http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingMoney/GivingMoneyToCharity/DG_078490 ..."If you pay higher rate tax, you can claim the difference between the higher rate of tax (40 per cent) and the basic rate of tax (20 per cent) on the total (gross) value of your donation to the charity or CSC."
I did this through HMRC - took a while for them to sort out but basically your tax code will be altered.
Posted : 17/02/2009 10:10 pm
Topic starter
Not a higher rate payer so that scuppers that idea then 🙁
Posted : 17/02/2009 10:21 pm