Independent Financial Life Planners Bishop's Stortford: Christmas is a time for giving

Saturday, 17 December 2016

Christmas is a time for giving

Our experienced IFA’s at Enable in Bishop’s Stortford and Saffron Walden know that many or our clients can be very generous towards charities, particularly at Christmas. It is also important to remember that when you do make a donation to a charity, or voluntary organisation that is registered with HMRC, that the said charity is able to claim back the tax that you have paid on the donation if you give them the right information increasing the giving. This mechanism is called Gift Aid and amounts to an extra 25p for every £1 that you give. If you give £10 to a charity and you are a basic rate taxpayer (20%), you will have paid £2.50 in tax on the gross donation (to take home £10, you will have earned £12.50 before tax). Charities are able to reclaim this £2.50 back from HMRC.

Giving a Charity Christmas present is also a good way of solving the what to buy for someone question while at the same time giving to a good cause. It is easy to give a gift to charity in someone else’s name and the options do not have to be massive but can have a huge feel good factor. £13 vaccinates 100 kids in the developing world against polio or £10 buys Christmas dinner for a homeless young person. £20 provides an hour of cancer care. £28 a drought survival kit, £40 to restore someone’s sight.

Many charities sell customisable e-card or gift cards that’ll tell the recipient what you've paid for on their behalf. Alternatively, you can just make a regular donation and if you do give direct to a charity on somebody else's behalf, make sure to use Gift Aid.

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

http://www.institute-of-fundraising.org.uk/guidance/frequently-asked-fundraising-questions/tax-effective-giving/

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.