Moore Thompson’s gone to Iceland…
At Moore Thompson, we are dedicated to getting involved in the community and supporting charities on both a local and national level.
Therefore, we are celebrating the silver jubilee of the merger of Moore & Price and Thompson & Co to form Moore Thompson with an Iceland Trek for four charities close to our hearts.
As our intrepid explorers navigate the land of ice and fire, they will be challenged by both these elements, crossing lava fields and icy streams while tackling 3,600 feet of ascent – and they need your help…
Rest assured, we don’t expect you to climb higher than Mount Snowdon with us, but we do need your support with our mountainous fundraising challenge. With your help, we can raise £10,000 for the following charities:
The Cure Parkinson’s Trust, supported by managing partner Mark Hildred
This passionate, patient-led charity invests in underfunded research projects offering hope of a real cure for this progressive neurological condition that has a gradual, and devastating, debilitating effect on sufferers.
Teenage Cancer Trust, supported by partner David Turpin
As the only charity providing expert treatment and support to young people with cancer, Teenage Cancer Trust transforms both their lives and those of the families that love them.
Lymphoma Association, supported by partner Ken Maggs
By providing lymphoma patients and their loved ones with specialist information and support, the Lymphoma Association helps people feel less vulnerable, more confident and more in control as they try to cope with their treatment.
Make-A-Wish Foundation, supported by partner Mark East
The Make-A-Wish Foundation grants magical wishes to children and young people fighting life-threatening conditions, making a real difference to them and their families.
Please help us support the valuable work carried out by these charities by sponsoring our partners ahead of their epic trek.
Making your donation as tax-efficiently as possible
A company can make a donation to a registered charity and receive corporation tax relief. Therefore, for a £100 donation, the charity will receive £100 at a cost of just £80 to the company after tax relief at 20 percent (£76 at the full rate and £75 at the marginal rate).
A personal donation can be considerably better as the charity is able to obtain Gift Aid from HMRC. For the same £100 donation, the individual gives £80 and the charity receives £100 – the original £80 plus £20 Gift Aid. This is the same as for the company donation above.
Higher rate and additional rate taxpayers can obtain further relief, and it can be beneficial for your allowances and other tax planning issues.
A higher rate taxpayer receives a further 20 percent tax relief on the gross payment. Therefore, they get £20 tax relief, so the £100 donation to charity costs the taxpayer just £60.
An additional rate taxpayer, however, gets an additional 30 percent relief. As such, their tax liability is reduced by £30, giving a net cost of just £50.
The effect on the personal allowance is also relevant – if the taxpayer has earnings of between £100,100 and £116,210, then the £100 grossed up donation actually reduces the liability by £20.
For a charity to receive £100, the cost to each category is:
|Individual – basic rate||£80|
|Individual – higher rate||£60|
|Individual – additional rate||£50|
|Some individuals losing personal allowance||£40|