Gift Aid - Tax question. HELP!
Not sure if I'm posting in the right place but anyway..
I understand that the basic rate band must be extended by the GROSS gift aid amount, but do you do the same to the higher rate band and additional rate band or just the basic? This is if the person receives an employment income of £165,000.
Any help would be much appreciated
I understand that the basic rate band must be extended by the GROSS gift aid amount, but do you do the same to the higher rate band and additional rate band or just the basic? This is if the person receives an employment income of £165,000.
Any help would be much appreciated
(edited 10 years ago)
Original post by noorii
Not sure if I'm posting in the right place but anyway..
I understand that the basic rate band must be extended by the GROSS gift aid amount, but do you do the same to the higher rate band and additional rate band or just the basic? This is if the person receives an employment income of £165,000.
Any help would be much appreciated
I understand that the basic rate band must be extended by the GROSS gift aid amount, but do you do the same to the higher rate band and additional rate band or just the basic? This is if the person receives an employment income of £165,000.
Any help would be much appreciated
Yup, all three bands will be extended
Original post by Enoxial
Yup, all three bands will be extended
Thank you!! So say if they received an income which was taxed at the higher band rate (e.g £100,00) you would only extend the basic and higher right?
Original post by noorii
Thank you!! So say if they received an income which was taxed at the higher band rate (e.g £100,00) you would only extend the basic and higher right?
Your welcome
When we extend the band some part of the income will fall in the lower band and hence get taxed at a lower rate.
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