Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
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Did you know that any money you Gift Aid is not counted in the calculation they use to work out your income for CTC purposes? I didn't - but I do now!
I did (though in all fairness I was working for the IR on the very thing at the time).
For those unfamiliar with Gift Aid, the beneficiary claims an allowance of 28% of the donation back from R&C, so £1 donated works out to £1.28. More telling, £1 comes from a donation of 78p (£1-22p, the basic rate). The reason you deduct this from statements of taxable income is that while you have paid tax on the money when you were paid, it is effectively "untaxed" when the Gift Aid is paid.
I was wondering if you needed to prove for example that you had donated money say on sprot relief hence the question about receipts.
Probably not unless it is specifically asked for, since I imagine the charity has to report this to R&C anyway. I imagine those sprots are nicely relieved now
Secondly if i could make a claim for back payment
If you notify changes within 3 months, things should go back, though it will only make a difference if it cuts your taxables by £500 or more.
It has been over a year since I worked at the IR. I left approximately a week before the department became officially known to the public as R&C.
As for the rate, no, the charity doesn't get to claim back higher rate tax (which would equate to a 66% rebate). As such, it's limited to those who pay at least basic rate, and the amount you're allowed to dispose of this way is limited to the amount on which you pay basic rate (to prevent people from "hiding" money in bogus charities).
Child Tax Credit
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Originally Posted by elizabethchpmn
