Why make a donation?
By donating to British Heart Foundation (BHF), you’ll be supporting groundbreaking research into heart and circulatory diseases. It can also be a great way to reduce your net adjusted income and improve eligibility for additional benefits, such as free childcare.
As an example, if you or your Partner’s net adjusted income exceeds £60,000, you may have to pay a High Income Child Benefit Charge, with a full clawback of child benefit if net adjusted income is £80,000.
By making charitable donations, you could reduce your net adjusted income and potentially avoid this charge. (note: the charge may still be payable if your Partner also has net adjusted income between £60,000 and £80,00, after any adjustment they make for charitable donations they’ve made).
Similarly, if you or your partner’s adjusted net adjusted income is over £100,000, charitable giving could bring you below the threshold to qualify for tax-free childcare (free childcare hours).
If donating is something you would like to do, we recommend you seek appropriate financial and tax advice that is reflective of your individual circumstances.
