From The Next Tax Year My Salary Will Be In The High Rate Band

[kaw69]

Hi
From the next tax year my salary will be around £1500 above the basic 20% to the 40%!!! this is the first time that I have been in this band of tax.
I don`t mind paying the extra in tax,,, but I give about £1000 a year to charity
and always use Gift Aid so the charity gets the extra but as a higher tax rate earner does the charity get the extra?

[factor-fiction]

No, but you can get your tax code adjusted so you only pay tax in effect at 20% on this £1000 rather than 40%

[ubasses]

http://www.hmrc.gov.uk/individuals/giving/gift-aid.htm

Explains it in above link

[Fitzer]

No, they get the basic and you can claim the difference between the lower and higher rates back for yourself.

[factor-fiction]

You can also put more into your pension, maybe as AVCs, and this may bring you back below the 40% tax threshold.

[kaw69]

Am I reading it right from the links that
because I am a higher rate tax payer I can claim the difference between the 20% and 40% on a £1000 donation!!!!! I can claim back £250.

[factor-fiction]

Not £250, no.

[factor-fiction]

From what you say, the most you can get back (via an adjustment to your tax code meaning you pay less tax each month) is £200

[factor-fiction]

^...per annum

[kaw69]

Thanks to all replies