What is Gift Aid?
It allows openingdoors to claim from the Inland Revenue the basic rate of income tax on a donation made by you the tax payer. As the current basic rate is 22% this means that we can claim an extra 28 pence for every £1 you donate. Gift Aid is one of the easiest ways to make your donation tax effective. openingdoors will reclaim the basic rate tax from the Inland Revenue. There is no extra cost to you and the process is simple – all you need to do is complete a Gift Aid declaration form.
Who can make a Gift Aid declaration?
Providing for example you pay UK tax, if you wish to Gift Aid donations that total £100 in one year, you will need to have paid at least £28 to the taxman in respect of that tax year.
How do I know if I pay UK income or capital gains tax?
You pay these taxes it:
- Income tax is taken from your wages or salary before you receive your pay
- You pay tax after filling in a self assessment form each year
- You have any taxable savings in a building society, or a pension plan, or investment income.
- You have paid any capital gains tax, on the sale of a property or some shares.
Why does it work out at 28 pence for every pound given?
Basic rate tax is currently 22% a donation for £1 is treated as net after tax on an amount of £1.28 less 22%. openingdoors receives 28 pence.
What if I don’t pay UK tax?
Then unfortunately you are not able to make a Gift Aid declaration.
What if I’m a pensioner?
You may still pay tax on a private pension plan or a savings account, or pay capital gains tax if you sell property or shares. If so please complete the Gift Aid declaration.
What does the Gift Aid declaration commit me to?
Absolutely nothing! It just ensures that if you choose to donate to openingdoors we can claim an extra 28 pence back from the Inland Revenue.
How long does the declaration last for?
To simplify matters for both you and openingdoors, the declaration wording covers past present and future donations. We are able to claim on any gifs made since the Gift Aid scheme was revised on 6 April 2000, as long as you are eligible.
Who will have access to this information about me?
Only openingdoors and the Inland Revenue. We will not share your information with anyone else.
What should I do if my tax status changes or I want to cancel my declaration?
Please notify us in writing at:
openingdoors (northwest) Limited
The GATEWAY
89 Sankey Street
Warrington WA1 1SR