Walk The Talk

Tax Refund

REDUCE YOUR TAX BILL WITH CHARITABLE GIVING

3 reasons to donate:

  1. You can multiply your donation! See how it works below*

  2. You can choose to claim tax relief on your donation for the current tax year or the previous tax year

  3. You can get tax back on your donation, allowing you to get involved in the pressing challenges you care about

3 reasons to donate via Walk The Talk:

  1. You can choose to assign the funds later to the project of your choice and take time to decide

  2. You can claim a UK tax relief on donations to foreign-registered charitable organisations

  3. You can donate to specific issue-projects where your money will make a meaningful difference

How income tax works:

banner_tax2.png
 

*your donation multiplier:

Title of the document CALCULATE NOW
 

+ How it works:

  • When you earn below £11.85k, your donation multiplier is x1. This makes sense, since there's no tax to deduct. For every £1 you give to charity, you lose £1.
  • When you earn £11.85k-£46.35k, your donation multiplier is x1.25. In this bracket your tax deduction is fully taken care of by Gift Aid, so all you have to do is remember to tick that box when you donate and the charity gets an extra 25% directly from the government.
  • In the bracket £46.35k-100k and again from £123.7k-£150k, your donation multiplier is x1.67. At this point the 25% in Gift Aid doesn't fully cover your tax deduction, so you get to claim back some extra tax from HMRC (see below for more on how to do this).
  • At £100k-£123.7k, not only are you in the top 0.1% of global earners, but you've hit the donation multiplier sweet spot of x2.5. You can more than double your money with every donation! This is because you'd be paying 40% in tax while your personal allowance would be reduced by 50p for every £1 increase in your salary, resulting in an effective 60% marginal tax rate. Again, you'll get to claim back a lot of tax on any donations.