Institute of Fundraising plans tax calculator app

Move will make virtual Gift Aid, payroll giving, share and legacy calculators available to iPhone users

Institute of Fundraising app
Institute of Fundraising app

The Institute of Fundraising is planning to launch an iPhone app that will help people give in a more tax-efficient manner.

The institute has four virtual calculators on its website, which can be used to make tax calculations on Gift Aid, payroll giving, shares and legacy wealth.

The calculators allow people to enter a donation amount - or for the legacy calculator enter detailed information on their assets and liabilities - and then work out the cost to the donor after the available tax relief is taken off.

All four calculators will be brought together in one iPhone app, which should be available before the end of the year.

Lee Grant, tax-effective giving project manager at the institute, said the app was in the final design stages and, pending approval from Apple, it should be available for free in the coming months.

Grant said he hoped the app would help to engage a new generation of donors with tax-effective giving.

"This app will help demystify tax relief for both fundraisers and donors," he said. "It is another tool for fundraisers to use when engaging with donors and will help people work out which method of giving is best for them."

Topics:
Finance

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