Some more good news: Gift Aid
You can make a single donation, or you can set up a regular donation, and Gift Aid can now be claimed on it. Here’s how.
From our perspective, The Ideas Partnership UK can claim an extra 25% on top of your donation, assuming that in the year of your donation(s) you pay at least as much in income tax. So, if you donate £1 to us, we can claim a further 25p from our very generous Government, provided that you will be paying at least 25p in tax. (If you’re interested in how this works, there’s more here and in subsequent pages: https://www.gov.uk/claim-gift-aid/overview.)
Additionally, from your perspective, if you’re a higher or additional rate tax payer you can claim the difference between the rate you pay and the basic rate on your donation. So if as a 40% tax payer you donate £1, which becomes £1.25 for us thanks to the Gift Aid added, you can claim back 20% (40-20) of £1.25 = £25p. There are more details on this, including how to claim, here: https://www.gov.uk/donating-to-charity/gift-aid.
Setting up the arrangement is quite straightforward. All you need to do is copy the text below (the bit between the ***s) into an e-mail, add name, address and date, and send it to firstname.lastname@example.org. (You’ll note that Her Majesty’s Revenue & Customs allow the declaration to be retroactive – in this case back to the date of our recognition by the Charity Commission in April 2015, which is the ‘with effect from’ date for HMRC’s more recent recognition.) We don’t need a paper form, and we don’t need a signature; the email is quicker and easier for you and us. If for any reason you prefer to send a paper form, please just paste the text below onto a page, complete it, print, sign next to the declaration section, and send to Flat 2, 17 The Terrace, Port Isaac PL29 3SG.
That’s it. After the end of the financial year, we will submit a claim to HMRC specifying the donations we have received from those who have given us a Gift Aid declaration. (You make the declaration once now, and our claim at the end of the year will tot up all of your regular donations.)
If you’ve any questions or uncertainty about this, do please get in touch with us. For now, thank you very much for your generosity: we will continue to give it as much impact as we can.
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GIFT AID DECLARATION
The Ideas Partnership UK
Please treat as Gift Aid donations all qualifying gifts of money made by me to The Ideas Partnership UK since it was recognized by HMRC as a charity for tax purposes with effect from 22 April 2015, and henceforward.
I confirm I have paid or will pay an amount of Income Tax and/or Capital Gains Tax for each tax year (6 April to 5 April) that is at least equal to the amount of tax that all the charities or Community Amateur Sports Clubs (CASCs) that I donate to will reclaim on my gifts for that tax year. I understand that other taxes such as VAT and Council Tax do not qualify. I understand the charity will reclaim 28p of tax on every £1 that I gave up to 5 April 2008 and will reclaim 25p of tax on every £1 that I give on or after 6 April 2008.
First name or initial(s):
Full home address:
Please notify The Ideas Partnership UK if you:
–Want to cancel this declaration
–Change your name or home address
–No longer pay sufficient tax on your income and/or capital gains.
If you pay Income Tax at the higher or additional rate and want to receive the additional tax relief due to you, you must include all your Gift Aid donations on your Self Assessment tax return or ask HM Revenue and Customs to adjust your tax code.
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