Here is an article by Edward Emblem explaining the rules for Gift Aid and other arrangements for charitable giving.
The article is taken from “Taxation” magazine of December 2014 but, as far as I am aware, nothing material has changed since then.
If you intend working in the charitable or financial planning sectors once you graduate then I would encourage you to read the whole article.
For examination purposes concentrate on:
- how higher rate taxpayers get relief for Gift Aid payments, and
- the “Gifts of Assets” section.
I will not be asking about the “special schemes” listed in the article nor will I be including gifts to charities in the inheritance tax question.