Anne Frank
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Quote of the month
21st August 1942
Now our Secret Annexe has truly become secret.... Mr Kugler thought it would be better to have a bookcase built in front of the entrance to our hiding place. It swings out on its hinges and opens like a door.
Anne M Frank
Gift Aid
Tax efficient donations through Gift Aid
If you are a
How Gift Aid works
Charities receive your donation (which is money you've already paid tax on), and then reclaim tax on its 'gross' equivalent (its value before tax was deducted) at the basic rate of 22 per cent.
In practice, this means that if you give £10 to The Anne Frank Trust UK using Gift Aid, that gift is worth £12.82 to the charity. This is because 22 per cent of £12.82 is £2.82 - your £10 being the difference.
The Gift Aid scheme is only for monetary gifts and there are rules limiting the value of benefits you can receive in return.
Who can use Gift Aid?
You can use Gift Aid if the amount of tax you have paid in any tax year (6 April one year to 5 April the next) is at least equal to the amount the charity is reclaiming on your behalf.
Higher rate taxpayers
If you're a higher rate taxpayer, you can claim the difference between the higher rate of tax at 40 per cent and the basic rate of tax at 22 per cent on the total value to the charity of your donation (the 'gross donation').
So, using the example above, you can reclaim higher rate relief of £23.08 (18 per cent of your gross donation of £128.20).
You make this claim on your Self Assessment tax return.
Non taxpayers
If you do not pay tax, you should not use Gift Aid.
How to make a donation using Gift Aid
The easiest way to make a donation to the Anne Frank Trust UK is to donate online using a credit, debit or CAF card www.justgiving.com/annefrank.
When you make a donation you will be asked to consider making your donation using Gift Aid. If you agree, they will give you a simple form to complete declaring that you wish to make donations under Gift Aid.
You should complete a separate declaration form for each charity you wish to donate to, but one form can cover every gift made to the same charity.
This information is based on material available online from HM Revenue and Customs: www.hmrc.gov.uk/charities/gift-aid.htm