Gift Aid

What is Gift Aid?
Gift Aid is a means of increasing the value of your gifts to Elvet at no extra cost to yourself !

How does it work?
The government returns to Elvet the income tax you paid in earning the money to make your gift

How much is that?
That depends on the standard rate of income tax. The table below shows some current examples .

GIFT

Annual Amount

Income tax reclaimed

New annual amount
of your gift

£2 per week

£104

£29.33

£133.33

£20 per month

£240

£67.69

£307.69

£10 per week

£520

£146.67

£666.67

£65 per month

£780

£220

£1 000

£1 000 p.a.

£1 000

£282.05

£1 282.05

 

What is a ‘Gift Aid Declaration’ ?
It is a statement, signed by you, that
(i) you are a U.K. tax payer
(ii) you would like Elvet to recover the income tax associated with your gift

How much tax must I pay to be able to take part in Gift Aid?
You must pay at least as much tax as Elvet reclaims ( see column 3 of the table )

Do I have to declare my earnings?  NO

Is Gift Aid confidential? YES

Can I alter the amount I give without making a new declaration? YES

What if I stop paying tax?
Inform the Gift Aid Secretary and your declaration will be cancelled.

What if I am a higher rate tax payer?
You can use your annual tax return form to claim additional tax relief for yourself

HOW CAN I START TO GIFT AID FOR THE BENEFIT OF ELVET METHODIST CHURCH?
Contact the Gift Aid Secretary

You can also download the form for gift aid to Elvet Church.
Chris Webb