The Foundation will seek to maximise all gifts to the Bicentennial Appeal through Gift Aid.
Gift Aid is one of the simplest and most effective ways of giving to the Bicentennial Appeal. Using Gift Aid means that for every pound you give, the Foundation will receive an extra 28 pence from the Inland Revenue. This means that a £10 Gift Aid donation, is worth £12.80 to the Foundation – imagine what a difference that could make, and it doesn't cost you a thing. On top of this, higher rate tax payers are eligible to reclaim as much as £23 from the taxman for every £100 donated to the Foundation, by including details of their Gift Aid donations on their Self Assessment form.
NB. These numbers may change in the light of the 2007 Budget.
Gift Aid is surprisingly easy to use. Gift Aid can apply to donations of any amount, large or small, by cash, cheque, postal order, direct debit, standing order, debit or credit card or even in a foreign currency (including the euro). If you are a UK taxpayer, all you have to do is give the Foundation a simple Gift Aid declaration. This might involve completing the Declaration on the Donation Form or just giving basic details over the phone or the internet.
What's more – one single Gift Aid declaration can apply to all past donations you have made (since April 2000) and to all future donations you make.
As a higher rate taxpayer looking to reclaim tax from your donation, all you have to do is remember to include details of your charitable gifts on your tax form. Also, from April 2003, higher rate taxpayers have been able to reclaim tax relief from donations paid to charity both during the previous tax year and during the current tax year. That means the relief is paid that much quicker.