Woodford Green AC with Essex Ladies is now a registered Community Amateur Sports Club (CASC). This means that non-competing club members with more than 25 years of club membership can now make a donation to the club instead of paying subscription fees, using the Gift Aid Declaration form. Sponsors, donors and other club members can also make donations to the club.
What is Gift aid?
Woodford Green AC with Essex Ladies can claim 28p for every £1 donated, provided that it is a personal donation and the donor is a UK taxpayer. Gift Aid is a system administered by the Inland Revenue to promote charitable giving. It is important you understand it as it could boost the amount you raise by 28%.
For example, if you are a basic rate tax payer, for every £1.28 you earn you only take home £1.00. If you give that £1.00 to charity with a Gift Aid declaration, Woodford Green AC with Essex Ladies can claim back the tax you paid to make your £1.00 back up to £1.28.
For sponsors / donors who pay tax at 40%, the rules are slightly different. If they have income or capital gain of £1.28, they only take home 77p. If they give £1 to Woodford Green AC with Essex Ladies we can still claim 28p from the Inland Revenue, but if we give them receipts, the individual can claim back the other 23p on their tax returns.
It costs you absolutely nothing!!
A Gift Aid declaration is simply a statement that the donor is a UK taxpayer who wishes the charity to claim back the tax on the donation. It doesn’t even require a signature. Woodford Green AC with Essex Ladies simply need to have the home address and postcode of the donor / member in case their tax inspector wants to check out their claims. This information is not entered into our mailing database.
What do I have to do?
Complete the Gift Aid Declaration form and send it with your donation to the Subscription Secretary or Treasurer. Please note that tax can only be reclaimed on donations made by individuals who pay UK income or capital gains tax at least equal to the amount reclaimed on their donations in the current tax year.
Registered Charity No CASC 00227