Gift Aid Awareness Day - 07 October 2021
7 October 2021
Thursday 07 October 2021 marks Gift Aid Awareness Day, a day to promote Gift Aid, raise awareness on the simplicity of the scheme and the huge impact it can have on organisations (such as Wakefield Cathedral), and all you need to do is #TickTheBox.
John Courtney has been working with the cathedral on Gift Aid claims since 2005 and he explains more about how the scheme works and the difference it makes...
"I have been supporting Wakefield Cathedral with their Gift Aid claims since 2005, and for the past 16 years it has been a pleasure to do this. Why? Well quite simply it gives me a sense of fulfilment to be able to obtain money from the UK Government for the cathedral for free, not often that the UK Government gives us something for simply completing a form, is it?
"During the past 16 years the cathedral has been able to claim back over £300,000 thanks to donations of over £1.3 million made by donors through Gift Aid.
"Gift Aid is one of the simplest and most effective ways of giving, it is a scheme administered by the Inland Revenue which currently allows us to claim 25p for every £1 that you donate. So, for example, if you donate £20 the UK Government gives the cathedral £5, making your gift worth £25.
"In order for the cathedral to reclaim the tax you have paid on your donations, the only requirement is that you must have paid income or capital gains tax in the UK for each tax year (6 April to 5 April) at least equal to the tax that all the charities which you donate to will reclaim on your gifts for that tax year. You don’t have to be in work to qualify. If you receive a state pension you are also eligible as that is taxed at source.
"If you pay UK income tax, and you’re making a donation – it’s simple. Just complete a short declaration stating that you are a UK taxpayer. After making this declaration, the value of any cash donation you have made to the cathedral will increase by 25%. Sound like free money? Actually, the cathedral is reclaiming the income tax paid on that ‘gift’ from the UK Government, at no extra cost to you or the cathedral.
"What does the Gift Aid declaration commit you to? Nothing! It just ensures that if you choose to donate to the cathedral, we can claim an extra 25% back from the UK Government.
"What is a Gift Aid declaration? A Gift Aid declaration is a statement by an individual taxpayer that they would like the cathedral to receive the tax paid on their donation back from the UK Government.
"How long does the declaration last for? To simplify matters for both you and the cathedral, the declaration wording normally covers present, future and past donations. We can back-claim payments made over the past four years and we will continue to claim until you tell us otherwise, so long as you are eligible.
"What do I do if my tax status changes or I want to cancel my declaration? Just let us know through the cathedral office on 01924 373923 or email email@example.com."