Gift Aid's 25th birthday - great for tax-effective giving
Gift Aid offers many opportunities for giving to charity, tax effectively. The options of giving shares or land, saving CGT on gains, as well as getting income tax relief, is somewhat unknown. The newer relief when leaving 10% of a net estate to charity, reducing the IHT rate on the estate to 36%, also has huge potential for wider use. The option to vary an inheritance, within 2 years of a death, to give to charity in this way is particularly useful. So many opportunities for anyone wanting to help charity - beyond texting to support Children in Need tonight!
On 12 November 2015 Treasury Minister Damian Hinds hailed the success of 25 years of Gift Aid and encouraged more individuals and charities large and small to make their donations go further. ”