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Tax Tips & News May 2018

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GDPR is the word on everyone’s lips at the moment. The General Data Protection Regulation comes into effect on 25th May 2018 and will impact every company.

GDPR requires you to look at your business in detail and understand how you collect, process and store data personal date. You need to establish data protection policies and setup processes for handling inquiries, complaints and data breaches.

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May 2018 Tax Tips & News

Welcome…
To May’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We’re here to help!

Use gift Aid to save tax

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HMRC have recently highlighted that charities are collectively missing out on some £600m extra funding because a third of donations made do not add Gift Aid when they could have done so.

Broadly, Gift Aid allows charities and community amateur sports clubs (CASC) to claim an extra 25p for every £1 donated. To add Gift Aid to a donation, the donor must have paid income or capital gains tax that year worth at least the value of the Gift Aid being added, and must give the charity permission to claim it. Gift Aid costs no extra to add on to the donation.

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