What is the Gift Aid scheme?

No doubt you become aware from time to time of how costs are constantly changing. Perhaps it is an appropriate time to reflect that Parish costs have also risen and to consider whether our donations to the parish could be increased.

In addition to the obvious things like window repairs, gas and electricity, the amount required from the Parish towards the support of the Catholic Schools in the Diocese has increased substantially in recent times and certain maintenance costs for our own schools have to be met out of Parish funds. The following illustrates how money values have changed over the years:

• £1 given in 1986 is now worth 57p

• £1 given in 1990 is now worth 74p

• £1 given in 1995 is now worth 85p.

There is some additional help at hand from an unexpected source. The Government has introduced a simplified system that will allow tax to be reclaimed on all your donations to the Parish. The old complicated Covenant system has been replaced by New Gift Aid. During the current tax year this means that the Parish can obtain an extra 28p from the tax authorities for every £1 contributed or donated under Gift Aid.

The only other condition is that the donor is a UK taxpayer who pays at least as much income tax or capital gains tax as the amount reclaimed by the parish on their contribution or donation, i.e for the moment the tax paid on all your income for this tax year must be more than 28p if you give £1 under Gift Aid, and this has to be repeated for every £1 you give.

The simple Gift Aid Scheme declaration lasts for as long as you want it to. This could be for your lifetime or until you cancel it. It could cover one donation or regular contributions. There is no set amount required for a donation. You can reduce or increase your donations at any time to suit your changing circumstances without the need to fill in any more forms.

To be able to reclaim the tax the Parish Priest or Parish Gift Aid Organiser has to ensure all donations under the scheme are recorded and so when making donations numbered envelopes, cheques or standing orders will need to be used. Loose cash offerings do not qualify for the rebate because they are not identifiable to the donor.

Remember, provided you are a taxpayer making identifiable contributions or donations to the Parish under the Gift Aid Scheme, the Parish can gain significant extra income at no extra cost to you.

If you would like to join our Gift Aid Scheme please contact the Parish Office.