CAF: Higher rate tax payers should make most of tax relief
Date posted: 13 Jan 2010
People who pay a higher rate of tax should be aware of the tax relief that they may be able to take advantage of when it comes to charitable donations, it has been suggested.
According to the Charities Aid Foundation (CAF), such consumers may currently be failing to make the most of tax relief totalling £250 million.
The CAF's head of private clients Mike Packham believes that the failure of some people to focus on tax relief may have financial implications for charitable organisations.
People who pay a higher rate of tax should be aware of the tax relief that they may be able to take advantage of when it comes to charitable donations, it has been suggested.
According to the Charities Aid Foundation (CAF), such consumers may currently be failing to make the most of tax relief totalling £250 million.
The CAF''s head of private clients Mike Packham believes that the failure of some people to focus on tax relief may have financial implications for charitable organisations.
He commented: "The lack of awareness of this tax relief and complexity of the process in claiming it back means that charities and donors are missing out on millions of pounds."
The CAF has aimed to highlight this issue ahead of the self assessment tax return closing date which this year falls on January 31st.
Meanwhile, a variety of charitable donation methods were highlighted by the CAF towards the end of last year, with the body raising awareness of things like Gift Aid.
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