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Gift Aid

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Gift Aid

  • This topic has 2 replies, 2 voices, and was last updated 4 years ago by hannahb.
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  • September 18, 2020 at 4:02 pm #586052
    hannahb
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Hello, in Example 13 the gross Gift Aid payment (£2000) is not deducted from the net taxable income, but it is in Example 14 (£8000). Why is this? Thank you.

    These examples are from the lecture below:

    Deductions from Total Income, Gift Aid and Personal Pension Contributions – ACCA TX Exam FA2019

    https://www.youtube.com/watch?v=nnwj5lqSpnY

    September 19, 2020 at 4:24 pm #586185
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Gift Aid payments are NOT deducted in deriving the taxable income of the taxpayer in either example – and indeed are never deducted in computing the figure of taxable income on any income tax computation.

    The difference between these 2 examples is that in example 13 the figure of ADJUSTED NET INCOME as defined in the study notes and lectures and separately computed where necessary in a working – does not exceed £100,000 and therefore the full PA is available.

    In example 14 – the figure of adjusted net income (shown in the working) does not only exceed £100.000, it exceeds £125,000 and therefore NO PA is available – as again is stated in the answer.

    September 21, 2020 at 4:22 pm #586319
    hannahb
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Thank you very much for clarifying!

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