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About Gift Aid: making your donation tax-efficient |
If you are a UK taxpayer, paying income tax and/or capital gains tax, you can make your gifts worth 25 per cent more, at no extra cost to you. For every £10 you donate, BMS World Mission can claim gift aid tax relief of £2.50 from the Inland Revenue. Additionally, until April 2011 a transitional government supplement of 30p will make a gift of £10.00 worth a total of £12.80 to BMS.
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Do I pay enough tax? |
How do I know if I pay enough tax to qualify?
As long as you pay enough tax in the year to match the tax that BMS claims back, your donation will qualify. For example, if you donate £100 in the current tax year, BMS World Mission could claim back £25 in tax from the Inland Revenue. To qualify for Gift Aid you must have paid tax amounting to £25 or more over the course of the year.
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Higher tax rates |
What if I pay the higher rate of income tax?
Even if you pay tax at the higher rate of 40 per cent, BMS can still only reclaim tax at the basic rate of 20 per cent. The benefit to BMS works out at 25p for every £1 you give. If you wish, you can reclaim the remainder on your tax return.
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Lower tax rates |
What if I pay the lower rate of income tax?
If you pay tax at the lower rate of 10 per cent, BMS can still reclaim tax at the standard rate of 20 per cent. The benefit to BMS works out at 25p for every £1 you give. You must have paid enough tax in this tax year to match the tax BMS will reclaim.
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Capital gains tax |
I pay capital gains tax. Can I still Gift Aid my donations?
Yes, as long as you have paid enough tax in this tax year to match the tax BMS will reclaim.
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Tax Returns |
How can I make sure BMS benefits from a tax refund due to me?
A taxpayer due a refund of tax under self assessment can nominate BMS World Mission to receive any tax repayment due to him/her as a result of making the tax return. Simply quote our reference number CAJ21TG. You can also complete a Gift Aid declaration on the return so that the repayment can be sent to us with the Gift Aid already added by the Revenue.
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Cancelling Gift Aid |
What if I no longer want BMS to claim back the tax on my donations?
Just let us know and we will make sure that tax is only reclaimed on gifts up to the date you contact us. Call 01235 517628 or e-mail finance@bmsworldmission.org
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Other Issues |
What if I move house?
Please let BMS know if you move house or if any of your details change, to help us keep records up-to-date. Call 01235 517638 or e-mail records@bmsworldmission.org
What if the amount of tax I pay changes?
As long as the total amount of tax you pay each year is more than or equal to the tax that BMS and other charities reclaim, currently 25p for every pound given, your gift will still qualify for Gift Aid. If you stop paying tax, please let BMS know and we will cease reclaiming tax on your donations from the day you contact us.
Call 01235 517628 or e-mail finance@bmsworldmission.org
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