Parents Can Accept Gift of Property on Boy’s Behalf
The Family Court recently considered an application by the parents of a 15-year-old boy for authorisation to accept a gift of a share in a property on his behalf, in...
Continue readingThe opportunities for obtaining tax relief in a prior year are normally limited, but one such opportunity is often overlooked.
HM Revenue and Customs do allow taxpayers to carry back the Gift Aid relief on charitable donations to the prior tax year if the request to do so is made before or at the same time as the tax return is filed, as long as the tax return is filed on time (31 October for a paper return and the following 31 January if filing is done online).
The ability to set back donations to a prior year is permitted if sufficient tax has been paid in the prior year to cover both the Gift Aid donations made in that year and the ones carried back.
Search site
Contact our office
Get in touch