Re: Unite strike again!! : Wed Apr 11, 2012 2:15 pm
Andy Gilder wrote:
Dally - the only way to do that is by making a gift of qualifying investments (broadly, quoted shares or land and buildings) equal to the full extent of your taxable income above the personal allowance. These investments will have been presumably been bought out of income which was taxed in the first place.
Simply handing over all your income to charity does not make that income tax exempt in your hands. If you gave every penny you had in income next year to charity, you would still be liable for any tax due on that income to the extent it exceeds your personal allowance.
Simply handing over all your income to charity does not make that income tax exempt in your hands. If you gave every penny you had in income next year to charity, you would still be liable for any tax due on that income to the extent it exceeds your personal allowance.
What would you know, taxma.... Oh