Donating through Gift Aid means that Stamford Rugby as a community amateur sports clubs (CASCs) can claim an extra 25p for every £1 you give. It will not cost you any extra.
Make a Gift Aid declaration for the charity to claim, this can be done by filling in this form.
Your donations will qualify if they’re not more than what you have paid in that tax year of the donation (6 April to 5 April).
The tax could have been paid on income or capital gains.
You must tell the charities you support if you stop paying enough tax.
If you pay tax above the basic rate, you can claim the difference between the rate you pay and basic rate on your donation. It’s the same if you live in Scotland.
Through your Self-Assessment tax return
By asking HM Revenue and Customs (HMRC) to amend your tax code
You donate £100 to Stamford Rugby – we claim Gift Aid to make your donation £125. You pay 40% tax so you can personally claim back £25.00 (£125 x 20%).
Companies and business are entitled to tax relief for qualifying charitable donations made to charities.
The donations are paid gross without the deduction of income tax. The donations are deductible from the company’s total profits in the year in which the donations are made.
The amount of the deduction is limited to the amount that reduces the company’s total taxable profits to nil: the payment of a charitable donation cannot create or augment a company’s loss for tax purposes. This means that charities do not reclaim tax from HMRC in respect of company donations.
The rules on benefits offered to corporate donors are the same as the benefit limits for individuals. HMRC has published full guidance on Gift Aid for companies.