King's Bible College and Training Centre

Gift Aid

An Overview

Gift aid is tax relief on money donated to UK charities.

Donations are treated as if the basic rate tax had already been deducted. We can then reclaim this tax to increase the value of your donation by 25%. For every £1 you donate we collect an additional 25p from Inland Revenue. When you make a donation we will ask you to fill in a declaration stating whether you would like us to claim gift aid on your gift.

Gift aid rules

Donors must

pay enough UK income tax and/or capital gains tax themselves to cover the amount of tax the charity will reclaim

sign a gift aid declaration, including name, home address, and details of the donation – saying that it is a gift aid donation, and that they have paid UK tax to cover the tax we will reclaim.

A declaration can be made to cover individual donations,a series of donations, can cover donations made during a specified period or to cover all future donations. They can also be backdated for up to 6 years prior to the date of the declaration provided the donation was made since 6 April 2000.

Tax relief

If a customer pays the

basic rate of tax, they cannot claim further tax relief on the payments

higher rate of tax, they can claim higher rate relief on the payments by entering the donations in the gift aid box on their self assessment tax return. Customer's who receive a form P810 can declare their gift aid payments on it.

More information can be found on the HM Revenue website.