Gift Aid Explained
Gift Aid Explained
What is Gift Aid?
Gift Aid is a simple way to increase the value of your gift to PET - at no extra cost to you. If you pay tax in the UK, PET can reclaim the basic rate tax (25%) on your gift. So, if you donate £100, it is worth £125 to PET.
Do I qualify for Gift Aid?
In order for PET to reclaim the tax you have paid on your donations, you must have paid income or capital gains tax (in the UK) for each tax year (6 April to 5 April) at least equal to the tax that all the charities or Community Amateur Sports Clubs that you donate to will reclaim on your gifts for that tax year. Other taxes such as VAT and Council Tax do not qualify.
What does the Gift Aid declaration commit me to?
Nothing! It just ensures that if you choose to donate to PET, we can claim an extra 25% back from the government.
What is a Gift Aid declaration?
A Gift Aid declaration is a statement by an individual taxpayer that they want a charity to receive the tax paid on their donation back from the government.
How long does the declaration last for?
To simplify matters for both you and PET, the declaration wording normally covers present, future and past donations. We can back-claim four years and we will continue to claim until you tell us otherwise, so long as you are eligible.
What do I do if I my tax status changes or I want to cancel my declaration?
To let us know if you stop paying tax or wish to cancel your declaration, please call us on 0203 752 5680.
Can I claim Gift Aid on the funds I have raised?
To claim Gift Aid on your fundraising, we must have the first name or initials, last name, full home address and postcode of each individual donor/sponsor. So please encourage them to tick the Gift Aid box on your sponsorship form when they sponsor you. Without these detail we legally can't claim Gift Aid - so be strict with your supporters!
What if I no longer pay tax or have moved?
If your circumstances change and you no longer pay enough income or capital gains tax to cover the amount claimed by the PET you can cancel your declaration by contacting the Fundraising team on 0203 752 5680.
Your declaration will then not apply to donations you make on or after the date of cancellation or such later date as you specify.
Please also contact the Fundraising team if you have moved address.
What do I need to do?
All you need to do is make a simple Gift Aid declaration including your name and full residential address including postcode. This will cover all donations that you have made to PET in the last four years and any that you choose to make in the future.
Simply call our Fundraising team to request a Gift Aid form and FREEPOST envelope and then just fill it in and return it to us.