Gift Aid on Tax Return

SueC_2

What better way to spend a rainy bank holiday afternoon than filling in my self assessment? No, don't answer that, try this one:

I've just noticed that I am supposed to list all Gift Aid payments during the year. I know I have made several donations to charity this year, and that I have always ticked the Gift Aid box, but I have absolutely no idea what sort of figure we're talking about. Not fortunes for sure, it'll have been a £20 donation here, a £30 donation there.

Do I guess a figure, or leave it blank? Is it really going to make a difference to anything, or am I going to get accused of tax fraud if found out (although I'd sincerely hope that HMRC have bigger fish to fry than me).

And, for future reference, should I really be keeping track of all donations I make? How is that ever going to be policed?

Thanks all.

zagfles

Yes, you should enter the amount of all your gift aid contributions, you should be keeping records of these.

However - it won't make any difference to your tax providing that

1) You have paid in tax at least the amount the charity reclaims (25% of what you donated)

2) You only pay basic rate tax, ie income below about £42475, and you're not a pensioner with an age allowance.

If you do pay higher rate tax you get a tax rebate for gift aid so it's in your interest to keep records.

But I doubt you'd get prosecuted for not correctly giving details of gift aid especially if they have no effect, or would lower your tax bill if claimed.

VfM4meplse

Maybe you'd like to complete mine too, when you're done!

PasturesNew

zagfles wrote: »

Yes, you should enter the amount of all your gift aid contributions, you should be keeping records of these.

What about when you're randomly going about your business and there's a tick box for gift aid so you just tick it.....

If that's the case I'd just stop ticking the box, then feel miffed and stop donating.

SueC_2

VfM4meplse wrote: »

Maybe you'd like to complete mine too, when you're done!

Okay.

Oh, no, wait, I have something really important to do instead... like go stick pins in my eyes.

I only do it so promptly cos I can't bear the thought of it hanging over me for the next 6 months!

SueC_2

zagfles wrote: »

Yes, you should enter the amount of all your gift aid contributions, you should be keeping records of these.

However - it won't make any difference to your tax providing that

1) You have paid in tax at least the amount the charity reclaims (25% of what you donated)

2) You only pay basic rate tax, ie income below about £42475, and you're not a pensioner with an age allowance.

If you do pay higher rate tax you get a tax rebate for gift aid so it's in your interest to keep records.

But I doubt you'd get prosecuted for not correctly giving details of gift aid especially if they have no effect, or would lower your tax bill if claimed.

Well, I'm screwed this year, but Mental Note to Self: don't donate in anger next year - remain cool, calm and collected, and record every penny!

zagfles

PasturesNew wrote: »

What about when you're randomly going about your business and there's a tick box for gift aid so you just tick it.....

If that's the case I'd just stop ticking the box, then feel miffed and stop donating.

Make a note. You always have to give your full name and address to tick the box anyway, I find that more hassle than making a quick note.

For things like zoos, castles etc where you can gift aid the admission I just keep the receipt and shove it in my tax folder when I get back home. Not really any more hassle than eg keeping credit card receipts to check against your statement.

Parisian

I am in the same position - I just looked at all my statements over the last tax year (I looked at mine through online banking), the donations to charity were clearly identifiable, and I totted them up.