Gift aid is tax relief on money donated to UK charities.
HM Revenue and Customs treats donations as if the person
making the donation has already deducted basic rate tax
from the money. By completing a Gift Aid Form, Sherbet can
then reclaim this tax to increase the value of your donation.
Gift Aid Rules
To be able to reclaim tax the person making the
donation must
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Pay enough UK income tax and/or capital gains tax
themselves to cover the amount of tax that Sherbet
will reclaim |
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Give Sherbet a gift aid declaration, which should
include |
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their name |
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their home address |
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Sherbet’s full name being “The
Sherbet Foundation” |
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details of the donation – saying that
it is a gift aid donation |
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confirmation that they have paid UK tax –
to cover the tax the charity will reclaim |
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A declaration can be made to cover individual donations,
a series of donations, and can cover donations made during
a specified period or to cover all future donations.
They
can also be backdated for up to 6 years prior to the date
of the declaration provided the donation was made since
6 April 2000.
Tax relief
If a person making a gift to Sherbet pays the
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Basic rate of tax, they cannot claim further tax
relief on the payments |
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Higher rate of tax, they can claim higher rate relief
on the payments by entering the donations in the gift
aid box on their self assessment tax return. |
Please take advantage of the Gift Aid scheme by downloading
your form, filling this in and returning it to Sherbet
at: |
