Gift Aid: tax relief for single cash gifts made to UK charities by UK residents.
NEWS FLASH BELOW!
How does it work?
You make a payment to the charity net of basic rate tax and give the charity a certificate which we provide so that it can claim tax back from the Inland Revenue. If you pay tax at the basic rate, this is all you have to do. For example, if an individual gave a Gift Aid of £250 (at the basic rate of tax of 22%) the charity would claim the tax back of £70.51.
From April 2000 the £250 minimum limit for Gift Aid donations is being abolished. Registered charities are now able to reclaim tax on any donations, whether large or small, regular or on and off provided that the donor is a basic rate or higher tax payer and the appropriate forms are completed. Cash gifts include payments made by:
- bank transfer
- online via our secure payment facilities
There is no upper limit to the amount you can give in each tax year. (A tax year runs from April 6 to the following April 5). Gift Aid tax relief is intended for outright gifts, not for payments to buy goods and services for you or your family (for example, goods from a charity shop). The gifts must have no strings attached; there must be no significant benefits received by you or anyone connected with you in return for the gift.
Before your spirit flies free, please leave an everlasting memory by remembering our organisation in your will. If your parrot is likely to outlive you, make proper provision for him also, in your will.
News Flash: George Osborne, the Chancellor of the Exchequer, has unveiled a raft of measures aimed at helping voluntary sector organisations in what he claimed were the "most radical and most generous reforms to charitable giving for more than 20 years". In the latest Budget, Osborne announced reforms that included enabling charities to claim Gift Aid on donations totalling up to £5,000 per charity without any paperwork, implementing an online claim system for the tax relief by 2013 and a 10 per cent tax break on inheritance tax for people whose wills include a 10 per cent legacy to charity. Click here to read more.