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Gift Aid allows individuals who are subject to UK income tax to complete a simple, short declaration that they are a UK taxpayer. Any cash donations that the taxpayer makes to the charity after making a declaration are treated as being made after deduction of income tax at the basic rate (20% in 2011), and the charity can reclaim the basic rate income tax paid on the gift from HMRC.
Payroll Giving, Workplace Giving or Give As You Earn (GAYE) is a scheme for UK taxpayers to donate money to UK Registered Charities. [1]Introduced in 1987, Payroll Giving allows employees to make donations to the UK registered charity of their choice directly from their gross pay, with no tax deduction for the charity to claim back.
The standard form in use is the SA100, complete with additional sheets for particular sources of income. A short tax return, form SA200, is available for those with incomes below £30,000. HMRC selects those who can complete a SA200. The tax year runs from 6 April to 5 April.
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
Business rates form part of the funding for local government, and are collected by them, but rather than receipts being retained directly they are pooled centrally and then redistributed. In 2005–06, £19.9 billion was collected in business rates, representing 4.35 per cent of the total United Kingdom tax income.
This image is believed to be non-free or possibly non-free in its home country, the United Kingdom. In order for Commons to host a file, it must be free in its home country and in the United States. Some countries, particularly other countries based on common law, have a lower threshold of originality than the United States.
A Discounted Gift Trust (DGT) is a type of UK trust arrangement usually set up in connection with an investment in either an onshore or offshore investment bond (insurance bond). It allows the gifting of a lump sum into a trust whilst retaining a lifelong 'income' from that money (technically withdrawals of capital), with the overarching aim of ...
A grant-in-aid is money allocated from a central/state government to subnational governments to provide specific services or fund specific projects. [1] Such funding is usually used when the government and the legislature decide that the recipient should be publicly funded but operate with reasonable independence from the state .