Want to reduce your tax burden following the 24th March 2010 budget?

Posted 25/03/10

From 6 April 2010 anyone earning over £150,000 p.a. will be subject to a new tax rate of 50%. If you are affected by this new tax rate, or pay tax at the higher rate, you could reduce your tax liability by giving a donation to RAFT.
If you pay tax at the higher rate, you can claim back the difference between the higher rate of tax (40 or 50 per cent, as appropriate) and the basic rate of tax (20 per cent) on the total value of the donation.

For example:

If you give a donation of £80, then RAFT can claim back gift aid of £23. Your donation will be grossed up to £100 and you can claim additional relief of £30. Thus a £80 donation will cost you £50 and RAFT will receive £103.

By giving a donation, not only will you be reducing your tax liability but you will be helping RAFT carry out pioneering research that will change the lives of tens of thousands of people.

For further details on our how you can give a donation please click here.