Monthly Donations

Payment options

Sponsor a Horse : €5.00EUR – monthly Become a regular giver to IHWT : €5.00EUR – monthly Feed a horse for a year : €5.00EUR – monthly Save a forgotten horse : €5.00EUR – monthly

Tax Effective Giving – Information & Increasing the value of your donation

Charities in Ireland are claiming thousands of Euro every year thanks to the tax effective giving process. Its simple, its fast and it can make a real difference.

Irish Horse Welfare trust is a not for profit organisation with charitable status and is an approved body for the purposes of section 848A, Taxes Consolidation Act, which relates to tax relief for donations to approved bodies.

Anyone supporting the IHWT, who is a taxpayer, and who donates €250 or more in a year, will be able to either:

· if self employed or corporate donors be able to claim tax allowances.
or
· allow the Charity to reclaim that tax (in the case of PAYE employee)

Corporate Donors
If a company makes a donation of €50,000 to the IHWT and receives a receipt, the company can claim a deduction for the donation as if it were a trading expense. The company pays corporation tax at 12.5% so their corporation tax bill is reduced by €50,000 x 12.5% = €6,250. The company gets the benefit of the €6,250 tax relief in this case.
Therefore to make a gift worth €50,000, in real terms it will only cost a company €43,750 because of the tax back

Individual Donors
There are tax benefits for individuals donating cash to this appeal. If you want to make a donation worth, for example €20,000 …..

Self Assessed
If you are PAYE (41%), you will make a donation of €11,800 and IHWT will ask you to complete a CHY2 form. IHWT can then claim €8,200 from Revenue which will be added to your donation making it worth €20,000 .

If you are Self-Assessed you will make a donation of €20,000 and you can claim back 41% of this in your annual return, i.e. €8,200. Therefore the net ‘cost’ / ‘investment’ is also €11,800.

Please note that many people who think of themselves as PAYE, may in Revenue’s eyes, for the purpose of this scheme, be deemed to be self-assessed. If you have e.g. rental or dividend income, it is very likely you will be considered self-assessed and you will need to make your donation accordingly. If in doubt consult your tax advisor or Revenue.

Please also note that from the 1st January 2007 under the 2006 Finance Bill, individuals with income in excess of €250,000 who have specified tax reliefs available to them have been restricted in the amount of tax relief they can claim each year. The specified reliefs that a person will be able to apply against their taxable income will be restricted to 50% of their gross income in any one tax year. Any excess reliefs will however be available for “carry-forward” to the following and subsequent years, subject to the 50% income cap.