|

How Gift Aid works
Charities take your donation
(which is money you’ve already paid tax on), and then reclaim
tax on its ‘gross’ equivalent (its value before tax was
deducted) at the basic rate of 22%.
In practice, this means that if
you give £10 to charity using Gift Aid, that gift is worth
£12.82 to the charity. This is because 22% of £12.82 is £2.82
– your £10 being the difference.
The Gift Aid scheme is only for
monetary gifts and there are rules limiting the value of
benefits you can receive in return.
Who can use Gift Aid
You can use Gift Aid if the amount
of tax you have paid in any tax year (6 April one year to 5
April the next) is at least equal to the amount the charity is
reclaiming on your behalf. You can calculate the amount of tax
the charity will reclaim by multiplying the amount you give by
22/78.
So if, for example, you give £100
to a charity in a particular tax year, they will claim back
100 x 22/78 = £28.20. You need to have paid at least this
amount of tax during the same tax year to be able to donate
using Gift Aid.
How to make your donation using
Gift Aid
When you make a donation to
charity, they will ask you to consider making your donation
using Gift Aid. If you agree, they will give you a simple form
to complete declaring that you wish to make donations under
Gift Aid.
You should complete a separate
declaration form for each charity you wish to donate to, but
one form can cover every gift made to the same charity.
Click here for more information on Gift Aid (HM Revenue &
Customs) |
|

If you would like to support the
work of Capstone Projects on a monthly or annual basis, please
download the following forms:
(To
download these files to your hard drive, please right-click
and select "Save Target as..." and choose a location on your
hard drive.
Mac users please click and hold and this
option will appear)
Please complete and return these
to the address included on the forms. You will then be
contacted to finalise all appropriate details; banking
information etc.
|