Supporting the Trust
Gift Aid explained
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Gift Aid Explained
If you are a UK taxpayer and make a donation to the Barn Owl Trust we can reclaim the basic rate tax you have already paid from HM Revenue & Customs (HMRC) on its 'gross' equivalent - the amount before basic rate tax was deducted.
Basic rate tax is 20 per cent, so this means that if you give £10 using Gift Aid, it’s worth £12.50 to the Trust at no extra cost to you.
You can use Gift Aid if the amount of Income Tax and/or Capital Gains Tax you’ve paid for the tax year, in which you make your donation, is at least equal to the amount of basic rate tax, the Trust and any other charities you donate to, will reclaim on your gift. A tax year runs from 6 April one year to 5 April the next. If you make a number of Gift Aid donations, you will need to consider the tax you’ve paid on each donation on an accumulative basis.
In order for us to claim Gift Aid on your donation you’ll need to make a Gift Aid declaration. When you enter your payment details on-line you will be asked if you are a UK taxpayer and to tick a box if you would like us to be able to claim Gift Aid on your donation. This will generate a Gift Aid declaration which will be emailed to you - one form can cover every gift made to the Trust from the date of your donation for whatever period you choose. It can also cover any gifts you may make in the future. If you have previously made gifts to the Trust that you wish us to claim Gift Aid on please let us know so that we can date your declaration accordingly.
A Gift Aid declaration must include:
• your full name
• your home address
• the name of the charity
• details of your donation, and it should say that it's a Gift Aid donation
How to check if you’ve paid enough tax:
To work out if you’ve paid enough tax to cover your donations, divide the donation value by four. For example, if you give £100 in a particular tax year you will need to have paid £25 tax over that period. (£100/4 = £25). (Note that this calculation is based on the basic rate tax of 20 per cent)
If you don’t think you've paid enough tax this year, you may be able to carry back your donation to the previous tax year. More advice is available from HMRC.
If we hold a Gift Aid declaration for you please let us know if you no longer pay enough tax for us to reclaim on your gift.
Tax benefits for higher rate tax payers
If you pay higher rate tax, you can claim the difference between the higher rate of tax 40 and/or 50 per cent and the basic rate of tax 20 per cent on the total 'gross' value of your donation to the charity or CASC.
For example, if you donate £100, the total value of your donation to the charity is £125 - so you can claim back:
£25 - if you pay tax at 40 per cent (£125 × 20%)
£37.50 - if you pay tax at 50 per cent (£125 × 20%) plus (£125 × 10%)
You can make this claim on your Self Assessment tax return, - more advice is available from HMRC.