Gift to Charity

Question 1

Cash gift

Answer 1

Gift donations are paid net, grossed up by 20% therefore receiving 20% relief.
Higher and additional rate taxpayers receive 20% relief by having there basic rate and higher rate band increased

Max saving 45% - 20% = 25%

Question 2

Gift of unlisted shares

Answer 2

Income tax - no relief

Capital gains tax - disposal no gain no loss

Question 3

Gift of listed shares

Answer 3

Income tax - relief against total income MV of shares at date of gift

Capital gains tax - disposal no gain no loss

Question 4

Cash gifts made after the 6th April

Answer 4

Can be included in the return as long as they have been paid prior to the return being filed.