Pre-release 2

Question 1

A taxpayer gives a GiftAid donation of £350 to a charity. How much money will the charity receive?

Answer 1

350 = X x 0.8
X = 350/0.8
=437.50

Question 2

a. A charity receives a GiftAided donation of £60. How much money did the taxpayer donate?
b. How much money was a refund tax from HMRC?

Answer 2

a. 60 x 0.8 = 48
b. 60 - 48 = 12