The following explanation has been taken from the HMRC website:
“Gift Aid is a tax relief for gifts of money to charities and Community Amateur Sports Clubs (CASCs). If you have made donations to a charity or CASC and made a Gift Aid declaration to cover them you will need to have paid at least as much UK Income Tax and/or Capital Gains Tax as all charities and CASCs you donate to will claim back from HMRC. Charities and CASCs currently claim 25p from HMRC for every £1 given to them under Gift Aid.”
All very well but what does signing the declaration form mean in practise?
As we are a registered charity, if you are or have been a UK tax payer, by signing the Gift Aid declaration form you will allow us to reclaim tax back for your annual choir subscription from the government (the final figure we can reclaim takes into account a non-reclaimable perceived personal benefit to you from Graham’s tuition). In turn you are declaring that you have paid or will be paying enough tax to HMRC to cover the amount. The annual subscription of £180 on which Gift Aid is being reclaimed should also be declared on your tax return.
If you are eligible and would like to help by filling out a form, please print and complete this Gift Aid declaration form and hand it in to Ruth Thompson (your treasurer) at the next rehearsal. Alternatively if you can scan in a completed form and send it by email to Ruth Thompson, that would be even better and we will be very impressed with your technical prowess 🙂
Many thanks for helping us with this exercise – it will help to raise some significant funds for future events!