How Gift Aid works
Gift Aid allows charities to reclaim the basic rate of tax on donations received from UK taxpayers. As long as you are a taxpayer, all you have to do is fill out a simple Gift Aid declaration (see below). A single Gift Aid declaration can cover any number of donations from you, applying to future donations and to donations received over the past six years. Imagine what a difference this could make to Trinity!
Higher rate taxpayers
If you pay tax at the higher rate of Income Tax, currently 40%, you can also claim tax relief for yourself at 20% of the gross donation, or 25p for every £1 they give through Gift Aid. 20% is the difference between the basic rate of Income Tax (20%) claimed by us and the higher rate (40%) paid by you.
If you complete a tax return, the tax relief can be claimed by entering the donation in the relevant section of your tax return (currently section 19A). You may receive a Tax Review form (P810) on which you can make a claim. Otherwise you can get in touch with the tax office that handles your affairs. Some claims can be dealt with over the telephone.
Who is eligible?
For a donation to qualify for Gift Aid, you must be a UK taxpayer. You must pay enough Income Tax or Capital Gains Tax in the same year to at least equal the amount of tax that the Trinity Sailing Foundation will reclaim from Her Majesty’s Revenue and Customs (HMRC) in respect of our donations.
A tax year runs from 6 April to the following 5 April. The Foundation will claim 25p for every £1 given. So, if you give Trinity £100 in a tax year, you must have paid at least £25 in tax (the same amount Trinity will claim). It does not matter at what rate you pay tax — it could be 10%, 20% or 40%. It could be tax deducted from bank or building society interest or the tax credit on dividends. What matters is that the amount of tax you pay in the tax year at least equals the amount of tax Trinity will claim.
When do I need to complete a Gift Aid Form for Trinity?
If you donate to Trinity via our online donation form you do not need to complete a separate Gift Aid declaration form. However, if you would like to donate over the phone or by cheque then you can make your donation go further by filling out a Gift Aid declaration form.
Please click on the link below, fill out the form, sign and scan/email or post to Trinity. If you require any assistance filling out the form or would like to discuss whether you are applicable for Gift Aid please call the Trinity office on 01803 883355. Many thanks for your support, every donation really does count!