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Gift Aid Declaration
(UK tax-payers Only)
If you pay UK Income Tax (like tax on salary, or your pension if you are retired, or Capital Gains Tax, or tax on the interest from your savings) then every donation you make, or have made since 6th April 2000, could be worth almost a third more, without any cost to you.
To help the LDN Research Trust maximise the impact you make through your donations, all you have to do is complete the gift aid form.
Frequently Asked Questions
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 What is a Gift Aid Declaration? - It is a statement by a tax-payer that they want a charity to get back from the Inland Revenue the tax paid on their donation There is no extra cost at all doing this. -
When did it start? - It was decided in the Budget in March 2000 and started on 6 April 2000.
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What about payments I have already paid? - Payments from 6th April 2000 can be included retrospectively. Payments before that are not covered.
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Who can sign it? - The form does not have to be signed so long as it is clear whose name it is in. It must be dated.
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How long does it last for? - It goes on forever unless it is cancelled.
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What does it commit me to? - Nothing at all.
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Will there be any additional forms to sign? - No.
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When can I cancel? - It can be cancelled at any time; all you have to do is tell us.
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Does it apply to all payments to the LDN researchTrust? - Yes.
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How much in the £ / why 28 pence? - The donation is treated as the money left after paying standard rate of income tax (22% in the £).
For example, the payment for £10.00 is the net after tax from £12.82 (£12.82 minus 22% is the £10.00). The LDN ResearchTrust get back the £2.82 which is about 28% of the £10.00 paid by you.
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What if I only pay tax at a lower rate? - It does not matter. The law says it is ok provided that the total amount of tax paid (income tax or capital gains tax) is enough to cover what the charity gets back. Example as above, you would have to pay at least £2.82 tax altogether.
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What about higher rate tax (40 pence in the pound)? - The LDN Research Trust can claim tax back only at the standard rate (22%). Donations from those who are higher rate (40%) tax-payers can get back the extra themselves by completing a tax return.
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What if I also pay tax on my pension, dividends etc. - It does not matter. It's still tax even if it's just on the bank account interest, for example.
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What if I stop paying tax? - Just let us know and we will cancel the Gift Aid Declaration. |
