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Written by:

Glyn Sheldon

Article read time:

1 minutes

Glyn joined CFG in July 2024 as a Communications Officer.

He has communications experience working for the NHS in the North East, before going on to work in Sydney after spending some time travelling across Asia and Australia.

Glyn previously studied at Newcastle University, receiving a BA in Politics and an MA in Media & Journalism.

Tax and VAT Gift Aid Accounting and reporting

13 August 2024, 11:24

HMRC figure shows slight rise in tax relief for charities

HMRC figures show that tax relief for charities and their donors increased by 3% to just over £6bn in the last tax year. Read more about the impact of tax relief, and remember Gift Aid Awareness Day is coming up soon on Thursday, 3 October.

Tax relief for charities and their donors increased by 3% to just over £6bn in the tax year ending April 2024.

The largest tax relief for charities remained business rates, totalling £2.5bn. Gift Aid payments held steady at £1.bn, despite an underlying upward trend. It is worth noting that more than half of Gift Aid payments went to smaller charities receiving less than £1m.

Inheritance Tax reliefs for donations remained at £750m, while Higher Rate Relief, claiming tax relief on Gift Aid donations, rose 1% to £690m.

While the number of people declaring donations on their self assessment returns increased by 1%, the total value of these donations fell by 3% to just under £4bn.

These figures provide valuable insights into the financial landscape for charities and their supporters.

Read the full report and don’t forget Gift Aid Awareness Day is coming up on Thursday, 3 October. You can support the Gift Aid campaign by downloading our toolkit.

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Glyn Sheldon

1 minutes

HMRC figure shows slight rise in tax relief for charities

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