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Donated items sold by charity shop and gift aid
If a higher rate tax payer donates goods to a charity shop can the tax payer claim back the tax difference between basic rate and higher rate.
I want the charity to claim the normal basic rate but how do I claim the incremental difference on the self assessment form. The charity has notified me how much has been raised from sale of the goods.
Do I include the whole amount along with other money donations made on self assessment or only a pro rata amount.
I have tried reading this but can't find anything relevant. Have I just missed it, or it in not there as this is not feasible. Thanks.
Comments
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Surely you would just include the figure supplied by the shop as the sale proceeds, along with your other gift aid donations in the gift aid section of the online self assessment. The system will automatically adjust your tax accordingly.
1 -
as above, you are in self assessment so all you do is enter the sales value supplied by the charity.
SA works out your tax relief at your marginal rate for you.1 -
@subjecttocontract and @sherlock228
Thanks just hadn't appreciated it was so simple. An incentive to continue clearing out and donating to charity shop.
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