This module covers tax relief for charities from income and capital gains tax which are available to them. It starts with an overview on charity tax relief and what charities are able to claim, both trusts and companies, as well as the conditions that must be complied with. The course then looks in detail at the charity gift aid scheme, showing what the permissable benefits are that can be provided by charities to donors. It also shows when income tax relief is available to gift aid donors, and how this is increased by rising tax rates. Finally the income tax and capital gains tax reliefs available when non cash donations are given to charity are covered.
On completion of this online course, you will gain an understanding of:
- what the restrictions are on tax relief for charities
- what charity tax relief can be claimed on gift aid donations
- what benefits and facilities charities are able to provide to donors
- the effect of gift aid donations on the tax position of donors
- when gift aid can be claimed on non-cash donations
- how gift aid works for company donors
- the capital gains tax reliefs on charitable giving.