| What is Gift Aid? |
Under the Inland Revenue's New Gift Aid scheme, Speakeasier is entitled to reclaim the tax made on gifts by UK taxpayers. This means that, if you are a UK taxpayer, your gift can increase by nearly a third – at no extra cost to you.
For example:
If you give £10
The taxman will add £2.82
Giving a total of £12.82
What you need to do
Please print out the Gift Aid form, complete, sign and return to us, with your donation, at:
Speakeasier
P.O.Box 410,
Cheltenham,
GL52 9GH
How it works
When Speakeasier receives a donation from a UK taxpayer, we are entitled to claim back an amount of tax (calculated against the basic rate of income tax in that financial year) paid on that donation. Capital Gains Tax (for example, tax paid on savings, pensions or investments) is equally applicable as Income tax.
Once you have given your permission for us to do this on your behalf (by filling in the Gift Aid form, or by ticking the Gift Aid box on our online donation form), there is no need for you to do anything else.
All that is required is that the amount of tax you pay in a given financial year is at least equal to the amount of tax reclaimed by Speakeasier in that same year, even if this is paid in the form of lower-rate (10%) Income Tax. In addition, because this amount is calculated over the whole financial year, there is no requirement that tax is paid regularly – it is purely a question of how much has been paid in the tax year as a whole.
The amount of tax we will claim back will be around 28% of the total value of your donations in that financial year. Furthermore, if you are a higher taxpayer, you are also entitled to claim back the difference between the standard rate which we will claim and the amount of tax you have actually paid. For further details on how you can do this, please contact your tax office.