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Wednesday, 8 October 2008

Paying tithing adds to those £££

Forgot to mention that we pay our tithing via gift aid in this country so we only pay 7.8% and the church ( a charity) claims the other 2.2% of the government, making the tithing we pay tax free. That's cool in itself, but what is even cooler, is every year when I have to report our earning to the tax credit office, any donations via gift aid are deductible and can be grossed up. E.g. If you earn £30,000 a year, that means you pay £3000 total in gift aid so you then tell the tax office that you only earned £27,000. Lower income equals more tax credits!!!! Gotta love it! A lot of church members don't realize this perk here, I only discovered it last year, but was able to claim the tax credits back about 3 years and got about £1800 in my hand...money really does fall off trees when you pay your tithing. I was making people money left, right, and center letting everyone know about this. I started to think I should charge a fee for the advice lol.

1 comments:

ecometrochic said...

I think I need to move to Ireland. Not just for the pounds, I promise! I'm not a native, though, unless you go back about five generations. Gotta love the Corks...