Gift Aid increases the value of your donations to St. Mary’s Cathedral by allowing the Cathedral to reclaim basic rate tax on your gift. St. Mary’s Cathedral can do this because it is a registered UK charity.
Please download a Gift Aid form and a Standing Order form below and start giving through gift aid.
Click/touch each question to see the answer.
The current basic rate of Income tax is 20 pence in the pound. If you earn £100 then you will pay £20 in tax. This leaves you with £80. If you give that £80 to the Cathedral then the Cathedral can reclaim the £20 tax that you have paid on it.
At the end of every financial year (5th April) the Cathedral Gift Aid Officer (GAO) submits a list to the Inland Revenue stating the name of all those parishioners who have signed Gift Aid forms. Against each name he states how much the Cathedral has received from the parishioner. Based on this list the Inland Revenue returns the tax paid to the Cathedral.
The Gift Aid Officer has confidential access to the Cathedral bank statements. From these he can record all the Standing Orders and cheques given to the Cathedral over the year, add them up and submit the totals to the Inland Revenue.
Again the Gift Aid Officer has confidential access to the Cathedral collection counters record book. In the book are recorded the envelope number and the donation given. Having a list of parishioners’ names and envelope numbers, the GAO is again able to submit a total to the Inland Revenue.
As this donation cannot be traced to an individual person it cannot be counted in the donations submitted to the Inland Revenue for a tax refund.
The Inland Revenue has the right to audit the list submitted by the GAO. The Inland Revenue has not taken up this option to date.
He doesn’t. It is your responsibility to ensure that you pay enough tax to cover the refund due on your donations.
A copy of your signed Gift Aid form is retained by the GAO and can be provided to the I Inland Revenue if they request it
If you complete an annual tax return (not everyone has to) there is a section on Gift Aid that you must complete. In this section you must state how much you donated in the last year.
At the end of the tax year, normally in May, the GAO issues to every Gift Aider a letter which states the value of the donations recorded against their name in the Cathedral records.
You can claim back for yourself the difference between the basic tax rate of 20% and the higher tax rate of 40%. This comes to 20%. For example, if you donate £1000 after tax to the Cathedral they can claim back the basic rate tax (£250) and you can claim back the difference between the basic and the higher rate tax (£250).
You have to complete the relevant section on your tax return.
Please contact the GAO for the Cathedral:
Telephone - 01224 584407
Email - firstname.lastname@example.org
For more information, visit the Her Majesty’s Revenue & Customs (HMRC) website or contact HMRC Charities Helpline on 0845 302 0203 between 8.00am and 5.00pm Monday to Friday.