we will be using GIFT AID forms this year folks
so every pound that is donated will be boosted by 28p in tax relief .
il have the forms with me on the day so please if you are a tax payer fill one in , it costs you nothing and helps raise that bit extra for a great cause
taken from the hm revenue website
Gift aid – an overview
Gift aid is tax relief on money donated to UK charities.
Reclaiming tax on Gift Aid and other income
If you are a UK charity or a registered Community Amateur Sports Clubs (CASCs) you can claim back basic rate tax relating to Gift Aid donations from individuals, from HMRC Charities.
In practice this means that for every £1.00 donated through Gift Aid you can claim back 25p.
In addition HMRC will automatically pay you a further 3p for every £1 Gift Aid donation made to you between 6 April 2008 and 5 April 2011; this transitional relief has been provided by Government to allow charities to adjust to the fall in basic rate tax (from 22 per cent to 20 per cent) from 6 April 2008. This means that for every pound donated under the Gift Aid scheme the charity will continue to receive 28p. Find out more about Transitional Relief.
Gift aid rules
Donors must
pay enough UK income tax and/or capital gains tax themselves to cover the amount of tax the charity will reclaim
give the charity a gift aid declaration, which should include
- their name
- their home address
- the charity’s name
- details of the donation – saying that it is a gift aid donation
- confirmation that they have paid UK tax – to cover the tax the charity will reclaim.
A declaration can be made to cover individual donations,a series of donations, can cover donations made during a specified period or to cover all future donations. They can also be backdated for up to 6 years prior to the date of the declaration provided the donation was made since 6 April 2000.
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