THERE are a range of tax reliefs available for donating to registered charities, explains accountant Nicola Roby.

Gift Aid is the well-known scheme which applies where gifts are made by UK taxpayers. The donor must complete a Gift Aid declaration confirming that the gift is to be treated as a Gift Aid donation.

The gift is treated as being made net of the basic rate of Income Tax and charities can reclaim the basic Income Tax from HMRC. If the individual pays tax above the basic rate they can claim the difference between the rate they pay and basic rate on their donation via their Self Assessment Tax return.

Payroll Giving is a scheme offered by some employers or pension providers enabling individuals to donate straight from wages or pension. Donations are deducted from gross pay and, as a result, tax relief is given at source.

If you donate land, property or shares to charity, you can get tax relief on both Income Tax and Capital Gains Tax. This includes selling them for less than their market value. You must keep records of the donation to show that you’ve made the gift or sale and that the charity has accepted it.

Relief is given on the market value at the time they’re given or sold to the charity, plus costs of disposal, less any consideration received.

The Inheritance Tax Rate (IHT) rate is reduced from 40 per cent to 36 per cent for estates of individuals who die on

or after April 6, 2012, who leave at least 10 per cent of their taxable estate to