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Post by mick on Sept 24, 2024 7:45:49 GMT
It seems that 'donation' carries with it tax implications. A donation is to a recognised 'charity' and can be claimed against tax due. A gift does not have the same tax deductible status and tax only comes into it when inheritance tax is calculated. Gifts can be made of up to £3k a year and not be included in the estate if you die. Over that and it becomes part of your estate for tax purposes.
I learned something from reading the above.
Mick
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Post by spinno on Sept 24, 2024 8:02:11 GMT
It seems that 'donation' carries with it tax implications. A donation is to a recognised 'charity' and can be claimed against tax due. A gift does not have the same tax deductible status and tax only comes into it when inheritance tax is calculated. Gifts can be made of up to £3k a year and not be included in the estate if you die. Over that and it becomes part of your estate for tax purposes.
I learned something from reading the above.
Mick
If they don't get you when you're alive, they'll come after those you leave behind... |
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Post by davem399 on Sept 24, 2024 8:21:47 GMT
When I donate items to the local charity shop, they can claim gift-aid as I am a tax payer. Should it not be donate-aid?😂
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Post by spinno on Sept 24, 2024 8:39:47 GMT
When I donate items to the local charity shop, they can claim gift-aid as I am a tax payer. Should it not be donate-aid?😂 Donate giftaid me oh my darling... |
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Post by don on Sept 28, 2024 15:10:41 GMT
I saw Starmer has accepted another clothing donation worth £16,000 REALLY he’s milking his position for all it’s worth. I’m a Labour supporter and I’m disgusted by him
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