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Psalm 40:3 ...
many will see and fear and put their trust in the Lord. |
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| GIFT AID |
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Gift Aid is a way of giving that enables
the Forty:Three Trust to reclaim tax you
have paid from the government. For every
pound donated, the Trust can reclaim
an additional 25 pence. Thus a donation of £1 is worth
£1.25 to the Trust. For this to happen,
you must pay tax at least equivalent to
the amount the Trust will
claim. All you have to do is to complete a simple Gift
Aid declaration form, telling us that we
can reclaim the tax. Click the button
below to download the form.
Alternatively, contact the office and we will send you
a form.
You can also Gift-Aid if you donate using the
Charity Choice website
To allow the 40:3 Trust to benefit in this way is good
stewardship and we encourage all
supporters who are taxpayers to use Gift
Aid when sending donations.
How it works for basic rate taxpayers
If you earn £1.25 and pay basic rate tax, the
government will take 25p and you will
take home £1. If you give that £1 to the
Forty:Three Trust under Gift Aid, we
can reclaim the 25p tax that you paid so that we
receive a total of £1.25 at a cost to
you of only £1.
Higher rate taxpayers
If you are a higher rate tax payer, you can reclaim
from HMRC an amount of tax corresponding
to the difference between the standard
and higher rates of tax
(20% and 40% respectively in 2009/10). This means that
as a higher rate taxpayer you can give a
larger donation to the Forty:Three Trust
at the same cost to
yourself. If, instead of £1, you give £1.33 the Trust
will receive £1.66 with Gift Aid. You
can claim 33p tax relief so that the net
cost to you is £1.
Making use of the tax laws in this way is a very
effective way of giving for higher rate
taxpayers.
Payroll Giving
Ask your employer if they offer this facility (or would
be willing to do so). Your donation is
deducted from your pay by your employer
and paid over to an agency
who pay it on to the charity of your choice. It is easy
and a painless way of giving.
For taxpayers, payroll giving, like Gift Aid, is tax
efficient but it works differently.
Instead of you paying tax and us
reclaiming it the donation is deducted
from
your pay before tax is calculated.
To achieve the same result as the example above for
Gift Aid you need to give £1.25 by
payroll giving. We receive the £1.25 and
your take home pay is reduced
by £1 (because the government would have taken the
other 25p in tax).
Higher rate taxpayers should give £1.66, which will
also cost you £1 as the government would
take 66p in tax.
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website created and maintained by
Alphawebs.co.uk
©
forty:three trust 2009
Charity No
327205
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