Increase the Value of Your Donation
What is Gift Aid?
Gift Aid is additional income that charities can claim back from HM Revenue & Customs (HMRC) on any eligible gift/donation, made by supporters to that charity.
Gift Aid is the tax that you have already paid to HMRC by way of income tax. Income tax is paid on any income you receive as a self-employed person, employee, or through pensions and savings. Tax is taken at source on this income, but when you make a gift to a charity the gift is tax free and so HMRC will give back the income tax that you have already paid on it.
Gift Aid does not mean that you will be asked to increase your donation!
PLEASE NOTE: Gift Aid is not applicable when you buy a service or product, e.g. membership, as a gift for another person over the age of 18. In this instance the “gift” is for the person for whom you are buying it and not the CBA, so the CBA are unable to claim any Gift Aid on it. For more information please go to the the section headed “Membership subscriptions that don’t qualify for Gift Aid” on the HMRC website.
What does Gift Aid mean for your contribution?
As long as you are a UK taxpayer (it is down to you to clarify this as the CBA is not qualified to give advice on tax), Gift Aid enables you to boost the value of your contribution to the CBA by 28p for every £1 you give (25p in Gift Aid and a further 3p in Transitional Relief).
Example: if you decide to give a £10 donation to the CBA, we will be able to reclaim an extra £2.80 from HMRC – making the total value of your contribution £12.80 whilst still only costing you £10.
This might not sound like a lot, but every penny really does count – in 2008 the CBA was able to claim around £36,000 in Gift Aid on adult and youth memberships and subscriptions, which helped support the costs of the Young Archaeologists’ Club and the production of British Archaeology magazine among other things.
Giving a tax repayment to the CBA
If HM Revenue and Customs owe you a tax refund then please do consider donating this to the CBA as a registered charity. You can easily donate by completing the simple form on the HMRC website.
You will need to include the CBA’s unique code for this purpose: MAA50KG.
Please contact the Peter Olver CBA Finance Director if you would like further detail.
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