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The Government has made new arrangements this year for tax
refunds when people give to charities and churches. We need to use these new
arrangements as effectively as we can.
Gift Aid is the name used for the
main scheme.
Requirements
The only requirements are that the person giving the money
- completes a Gift Aid declaration (which states that donors
wish their gifts to be treated as Gift Aid), and
- pays enough income tax or capital gains tax in the relevant
tax year to cover the amount of tax reclaimed. (28p at present for each £1
donated).
These new arrangements are wider than the previous gift aid
and covenant schemes combined.
No Limits
There is no high or low limit on the amount given or tax
reclaimed, and no requirement to maintain giving over any particular period.
They last for ever!
On the other hand, one of the new Gift Aid declarations can
cover all future donations unless and until there is a change in the rules.
Everyone who pays tax can make one
We hope, therefore, that those taxpayers who have previously
felt unable to use the old restricted arrangements will now feel able to
complete one of the new and simpler Gift Aid declarations.
Covenants not used in future
Covenants will not be used in future, although existing
covenants can serve instead of new Gift Aid declarations until they expire.
More information
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