Charities to receive donations via SA forms
From April this year tax payers will be able to donate tax repayments from the Inland Revenue to charity via their self-assessment tax return.
Those wishing to take advantage of the move, which was announced in the government’s pre-Budget report, can gift aid their donation to ensure that any tax on the gift is paid directly to the charity without need for a further claim.
‘It has never been easier or more tax efficient for taxpayers to donate to charity,’ said Clive Mackintosh, personal tax partner at PricewaterhouseCoopers. ‘Approximately 35,000 charities have added their name to the Inland Revenue scheme in an effort to make the most of the opportunity to receive tax efficient donations.’
The first list of charities signed up will be available to taxpayers in April this year, and will be updated on a quarterly basis by the Inland Revenue.