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Higher rate tax relief on charitable gifting
stringvested
Posts: 1 Newbie
in Charities
I am a higher rate taxpayer whereas my wife is on basic rate tax.
We only have joint bank accounts.
If we make charitable gifts which can benefit from gift aid- am I only entitled to declare 50% of the gift to HMRC ? whereas paying from a sole account would allow me to claim 100%.
When it comes to me informing HMRC ( to claim additional rate relief ) do I declare the sum I have gifted - or the sum with 25% added ? eg £100 gift
or £125 that the charity claims gift aid on ?
We only have joint bank accounts.
If we make charitable gifts which can benefit from gift aid- am I only entitled to declare 50% of the gift to HMRC ? whereas paying from a sole account would allow me to claim 100%.
When it comes to me informing HMRC ( to claim additional rate relief ) do I declare the sum I have gifted - or the sum with 25% added ? eg £100 gift
or £125 that the charity claims gift aid on ?
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