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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.
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.
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.
In the UK, donations by individuals are treated as being given after the deduction of income tax at the basic rate (20% in 2011), and charities can reclaim the basic rate income tax paid on the gift from HMRC via Gift Aid. Charities on BT MyDonate could fill in the necessary legal forms to authorise BT to collect Gift Aid on their behalf for ...
Tax returns must be completed by 31 January following the end of the relevant tax year for those who complete the tax return online and by 31 October following the end of the tax year for those who file by a paper return. Once registered, taxpayers can submit their tax return online directly via the HMRC website, or from online platforms.
Until 1993 the income tax rate payable on dividends was the same as all other income, and the ACT rate was adjusted to align it to changes in the basic rate of income tax. From April 1993, the ACT rate was cut to 22.5% while the tax rate on dividend income was set at 20%, the first time it was set at a different rate to that payable on other ...
Following a Charity Commission policy change, sports clubs could register as charities; and Sports clubs could register as a Community Amateur Sport Club under a tax scheme On 30 November 2001, the Charity Commission announced that it would now recognise as charitable: "The promotion of community participation in healthy recreation by the ...
However this supervision was not always formalised, and the Charities Act 2006 (which was consolidated into the 2011 act) introduced the idea of "principal regulator" for exempt charities. Where a previously exempt charity had no principal regulator it would become subject to registration with, and regulation by, the Charity Commission.