So...what about gift aid?
If you can and do gift aid then your gift of £10 is worth £12.80 (£12:50 after April 5 '08).
Q: Can I gift aid it?
A: If you are donating as an individual who has UK income tax deducted from your pay, bank interest, pension, etc or if you pay capital gains tax you can.
Q: How much can I gift aid?
A: You can give as much as you want to so long as the tax reclaimed on all your gift aid payments in a tax year are no more than the tax that you pay. From April 6th, devide your total gifts by 4. This is what can be claimed.
Q: Am I making a commitment to pay a regular amount for several years?
A: No, you can give as much or as little as you want whenever you choose to do so. We would prefer a weekly or monthly donation, but you can choose to follow what God puts into your heart.
Q: What if I make a mistake?
A: Let the Gift Aid Secretary know. He can repay the excess amount he has claimed on your gifts.
Q: How do I know if I made a mistake?
A: The Gift Aid Secretary sends a thank you to all Gift Aiders in the congregation which states how much they have gifted to the Abbey and how much tax has been reclaimed. This is done in the first 3 months of every new tax year.
Q: I pay tax at the higher rate. Can the Abbey claim that tax back too?
A: No. When you make your tax return and fill in the amount of your gifts, it will allow you the difference between the standard and higher tax rates. You can either keep this for yourself or you can gift it to the charity of your choosing by quoting the correct code on your tax return. For the Abbey, this is KAH59YG.
Q: How can I gift aid to the Abbey on a regular basis?
A:
Fill in a Gift Aid Declaration form.
We would prefer members of our congregation to give by standing order - this greatly assists our budgeting. It is also possible to give regularly by donation envelopes. If you choose to create a standing order please contact Jim Druett in total confidence at giftaidsecretary@malmesburyabbey.com.
We can also supply undated gift aid envelopes. We also have brown envelopes for visitors so you can gift aid donations into the box by the Abbey entrance
Q: Surely the govenment doesn't want to lose taxation revenue?
A: The govenment recognises the work that charities to and gift aiding is one way they choose to help, by matching your donation. They encourage it.
Thanks for reading and reviewing your giving to Malmesbury Abbey.