Thinking of making a charitable donation this Christmas?

Making charitable donations at Christmas

Thinking of making a charitable donation this Christmas?

Christmas is a time when people think about those less fortunate than themselves and often consider donating to charities. The way in which you make gifts is important, as the value of your gifts can be significantly increased if done appropriately – enabling charities to do more good work

Gift aid

By making a gift aid declaration, charities can claim basic rate tax relief on your gift from the government at no additional cost to you, provided certain conditions are met.  

A gift of £80 can become £100 to the charity simply by making a declaration.  

Higher and additional rate tax payers can also claim relief for gift aid payments, this may be carried back to the 2017/18 tax year if made before your tax return is filed before 31 January 2019. So if you have not already filed your 2017/18 tax return there is still time to carry a gift back.

CAF accounts

If you make frequent or regular gifts you may wish to consider opening a CAF (Charities Aid Foundation) account https://www.cafonline.org/my-personal-giving which enables you to tax claim relief on payments made into the account.  

The basic rate tax credit is reclaimed by CAF and paid directly into your account, enabling you to make larger gifts whilst reducing the administration burden on charities and enabling you to give anonymously if you wish. For some larger charitable projects, setting up a private standalone charity or establishing one under the CAF charity umbrella may be appropriate.

Payroll giving scheme

If you run a business you may wish to consider introducing a payroll giving scheme which enables employees to make gifts to the causes that matter most to them out of gross income, in effect costing them less to give more. Research shows working for a philanthropic organisation aids staff retention and happiness which is good for you too!

Creaseys charity of the year

And since you ask, we are proud to have a Charity of the Year and have been supporting Tunbridge Wells Mental Health Resource (TWMHR) in 2018 with a cake bake and a rounders’ tournament amongst other events held throughout the year, raising over £4,500 to date. We are proud to announce that we will continue to support TWMHR in 2019.

If you are interested in spreading some Christmas cheer please call us on 01892 546 546 and we’ll help make sure it’s done in the best way for you and your charity of choice.