ChatterBank0 min ago
Do You Hang Around For 1P Change?
70 Answers
I bought something for £6.99 today and gave the cashier £7. I felt embarrassed about hanging around for my penny change, but I'm not sure that saying "keep the 1p" or "put it in the charity box" would have been much better. What to do?
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ah good s/o has asked that ........ GIFTAID dear boy
fill out the relevant form and the charity can reclaim 20% tax
and if you tick the corrct box it can reclaim 40% tax - if you are a 40% tax payer which I am
so if you give £1200 - chosen because of the figures
then this represents 60% and you need an uplift
so divide by 0.6 and you get £2000 - that is they get £2000, so for an outlay of £1200 the charity gets £2000 - yay!
[ checko - 40% of £2000 is £800 ( tax) and so the nett is £1200 - the sum you started with]
but you all really knew that didnt you ?
(on your tax form they just whack up the personal allowance by the grossed up amount ( here 2000) - for gift aid )
ah good s/o has asked that ........ GIFTAID dear boy
fill out the relevant form and the charity can reclaim 20% tax
and if you tick the corrct box it can reclaim 40% tax - if you are a 40% tax payer which I am
so if you give £1200 - chosen because of the figures
then this represents 60% and you need an uplift
so divide by 0.6 and you get £2000 - that is they get £2000, so for an outlay of £1200 the charity gets £2000 - yay!
[ checko - 40% of £2000 is £800 ( tax) and so the nett is £1200 - the sum you started with]
but you all really knew that didnt you ?
(on your tax form they just whack up the personal allowance by the grossed up amount ( here 2000) - for gift aid )
My local shop doesn't give you a receipt, unless you ask for one.
I usually wait for my change.
The other day when I was in there, the assistant said a customer had been in, they put coins on the counter and told them to keep the change. The customer then quickly left the shop, they counted the money and it was 4p short.
I usually wait for my change.
The other day when I was in there, the assistant said a customer had been in, they put coins on the counter and told them to keep the change. The customer then quickly left the shop, they counted the money and it was 4p short.