Martin Lewis issues warning to anyone who donates to a charity

The BBC Sounds podcast host and ITV regular spoke out over the need to ensure you are ticking a Gift Aid box when you are putting in your charity donation to your chosen fund.

Martin Lewis has issued a warning to anybody who donates to charity. The BBC Sounds podcast host and ITV regular spoke out over the need to ensure you are ticking a Gift Aid box when you are putting in your charity donation to your chosen fund.

Mr Lewis said: "If you donate to charity, why saying yes to Gift Aid means they get more & you may get more too. Feel free to share, charities miss out on hundreds of millions of unclaimed Gift Aid each year."

"If you donate to charity say yes to gift aid because that way the charity gets more and you may get more too. I'm Martin Lewis from moneysavingexpert.com and I'm doing this video because every year charities across the UK miss out of hundreds of millions of pounds in unclaimed Gift Aid which you could do and it doesn't cost you a penny so the simple rule is when you donate if you're a UK taxpayer that's crucial just say 'yes indeed.'."

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Mr Lewis said: "Let me explain why and why you may - some money in some circumstances now the reason this works is because when most people are paid 20% tax is usually taken off I have a very expensive prop now there we are so when you're paid tax office comes along and takes 20% of it away so if you earn 25 quid you take home 20 of it.

"Only facturing in the that's not National Insurance but Gift Aid means when you donate that 20 to charity the charity gets your money and the tax that you pay back which works out as a gain of 25% on top doesn't cost you anything but on each 20 quid it gets a five or more so say yes to gift a and the 20 becomes £25 and there's more if you're a higher 40% rate taxpayer.

"If you donate to charity the charity still gets the 25% boost there you go same 25% boost you. There we are. So it gets the 25% boost so the charity is getting more and you can claim the remainder of the tax that you paid back which you could then donate to you generally do this by your self assessment form so if you're a UK taxpayer and donating to charity first of all for the charity say yes indeed to gift a but also for you say yes indeed to gift aid."