Gift aid, CGT and higher rate

00ec25

"3.5.2 The introduction of the Dividend Allowance on 6 April 2016, means that individuals won’t pay tax on the first £5,000 of their income from dividends paid by companies that they own shares in. This means that only donors that have paid tax on dividend income over the £5,000 allowance will have some tax that can be used to cover their Gift Aid donations to charities and community amateur sports club (CASC’s)."

taken from here:
http://lmgtfy.com/?q=tax+on+dividends+and+gift+aid

https://www.gov.uk/government/publications/charities-detailed-guidance-notes/chapter-3-gift-aid

EDIT... Ha ha ... beaten by purdy. I shouldn't have stopped to put the LMGTFY link in having now found the time to research it

starkrush

Thanks! I think that's actually almost the exact passage that confused me, because 3.5.1 describes it as "income tax or capital gains tax" to be covered - but looking at it they classify tax on dividends as income tax. Glad it's cleared up

TBC15

Sorry if I missed it but has the CGT allowance of £11300 been mentioned?