Gift Aid is a government scheme that allows registered charities to claim the basic rate tax back from HM Revenue & Customs (HMRC) on every pound donated.
This means that for every £1 you donate, FOLIO Sutton Coldfield can claim back 25p, making your donation worth £1.25 at no extra cost to you.
Am I eligible?
If you are a UK taxpayer, then yes. Even if you’re not employed, you’re still eligible for Gift Aid if you are paying tax on things like a personal pension, stocks and shares, savings accounts, rental income or investment dividends.
However, you must ensure that what you pay in income and capital gains tax at least equals the amount that we will claim against your donations in that tax year.
What do I need to do?
You only need to make a Gift Aid declaration to us once. It is then valid for all gifts in the future, and for any gifts you have made to us in the four years prior to you signing.
Please complete our Gift Aid Form and return it to us (via email or via the cafe in Sutton Coldfield Library – please leave your form in an enveloped addressed to “FOLIO Treasurer” with staff in the Little Green Bookworm cafe)
If your circumstances change (like your address or your name) or you want to cancel your declaration, you can contact us at any time.
Gift Aid and higher-rate taxpayers
If you are a higher-rate taxpayer, you can claim the difference between the lower rate tax (which we claim) and the higher rate of tax (that you have paid). This means it costs you less for your gift to have more impact. Check our Gift Aid calculator above to see how this works.
You can claim this tax relief in your self-assessment tax return.