- Category: Gift Aid
- Published: Wednesday, 23 April 2014 11:14
How Gift Aid works
The Gift Aid scheme is for gifts of money by individuals who pay UK tax. Gift Aid donations are regarded as having basic rate tax deducted by the donor. Charities or CASCs take your donation - which is money you've already paid tax on - and reclaim the basic rate tax 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 charity. For donations between 6 April 2008 and 5 April 2011 the charity or CASC will also get a separate government supplement of three pence on every pound you give.
How to make a donation using Gift Aid
In order to make a Gift Aid donation you’ll need to make a Gift Aid declaration. The charity will normally ask you to complete a simple form - one form can cover every gift made to the same charity or CASC for whatever period you choose, and can cover gifts you have already made and/or gifts you may make in the future.
For the Garw Valley Railway, this means that when you become a member and donate your £12.50 for membership we can claim a further £3.12 from HM Revenue & Customs
Download the Garw Valley Railway Gift Aid Declaration formClick Here to Download
BVRC Gift Aid form.pdf [196KB]
Further information from HMRC can be found here