HMRC will publish data on higher rate Gift Aid taxpayers

HMRC is to reduce the amount of reporting on charity tax relief statistics, merging the current three datasets to one from 2016, in a bid to reduce costs which will free up resources to report on the use of Gift Aid by higher rate taxpayers

The decision follows a consultation on the frequency of publication and the usefulness of the statistics, conducted earlier this year.

From the response, it was clear that charities and other respondents want to see more data, not less, particularly a breakdown of particular use of tax reliefs.

As a result, HMRC has confirmed that it will reintroduce distributional analysis of higher rate relief on Gift Aid into the national statistics publication. This analysis will appear in the next annual publication in June 2016.

The move will shine some light on the amount of tax relief claimed by higher rate taxpayers through the Gift Aid scheme, who are able to claim 40% tax relief on donations.

Your free features:

Breaking news and expert analysis
Customisable daily newsletters
Six free CPD learning modules each year
Personalised CPD tracker
Top 75 Firms league tables
Regulatory changes
Hardman’s Tax Data

Business | King’s Speech outlines closer trade ties with EU, less red tape

Tax | Do I need to file a self assessment tax return?

Finance | Legal updates: danger of digital handshake via email in binding contracts

Tax | Higher rates of SDLT – behind the Rayner headlines

Navigate

Tax Services

Your free features:

Sign up to Business & Accountancy Daily