Gift Aid scheme
If you are a UK taxpayer, by using the Gift Aid scheme, Colfe’s can reclaim an extra 28 pence
from the Inland Revenue for every pound you give, helping your donations go further.
As the Development Office can reclaim tax on all donations that UK taxpayers make by Gift
Aid. This, then, increases the value of the gift to Colfe’s and decreases the cost to them. For
Higher Rate Tax payers there is an extra incentive as income tax relief is allowed on the gross
value of gift aid payments at the difference between the basic rate (22%) and the higher rate
(40%). (Claims for tax relief will need to be incorporated in the donor’s annual tax return).
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Notes
- You must pay an amount of income tax and/or capital gains tax at least equal to the tax that
the charity reclaims on your donations in the tax year (currently 28p for each £1 you give)
- If in the future your circumstances change and you no longer pay tax on your income and capital
gains equal to the tax that the charity reclaims, you can cancel your declaration (see note 5)
- If you pay tax at a higher rate you can claim further tax relief in your Self Assessment tax
return.
- If you are unsure whether your donations qualify for Gift Aid tax relief, ask the School or
your local tax office for leaflet IR113 “Gift Aid”.
- You can cancel this declaration at any time by notifying the Development Office in
writing.
- Please notify the Development Office if you change your name and address.
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