The festive season is upon us and you may be considering supporting the causes you care about by making charitable donations.
There are a number of tax-efficient methods which can be implemented to give to charities, either by way of making a cash donation or by making non-cash gifts such as investments, land or property. Alternatively, a charitable foundation or trust may be established to meet a family’s long-term philanthropy strategy.
In addition to supporting the causes you care about, making charitable donations can also be tax-efficient if structured efficiently. However, we understand that making a charitable donation in a tax-efficient manner is only one element of what you are ultimately trying to achieve.
There are various options for making philanthropic donations and these can be complex, often making it difficult to measure and achieve giving aspirations. We have however provided some helpful top tips and points to consider when making charitable donations:
There are many ways to make philanthropic donations and we have discussed the tax relief for some of these options below.
We can work with you to establish your goals and offer as little or as much support as you may require to support the causes you care about.
If you have any questions about the issues raised in this article or would like to discuss your individual circumstances, get in touch with your usual Crowe contact.
How to make festive donations via Gift Aid
Giving to charity – good for the soul but what about tax?
Year end tax planning opportunities for individuals