Diocese in Europe donations page
GENERAL GIFT AID INFORMATION
(If you would like to promise to
give regularly to the church, possibly through the weekly
GIFT AID DECLARATION FORM
(for a one-off or regular
donation via UK bank, including retrospective donations, so
that tax can be reclaimed)**
BANKERS ORDER FORM
(needed to accompany either of the
Tax-Efficient Donations by UK
the Chaplaincy is not a registered UK charity, exemption from UK income
tax is granted when donations are channelled through the Diocese in
Europe. The tax which has been paid, on the giving of Church people, can
be recovered from the Inland Revenue. This is good stewardship of
The relevent form is available under the give button on the left.
Please remember to include a bankers order form with either of the
Gift Aid - How does it work?
is surprisingly easy to use. it can apply to donations of any amount,
large or small, cheque, postal order, direct debit, standing orders in
Sterling or Euro.
If you are a UK taxpayer, all you have to do is give the Diocesan
office, on behalf of the Costa del Sol (West) Anglican Chaplaincy a
simple Gift Aid declaration. This will only involve completing a short
form. 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 were 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.
Donors who are liable to tax at the basic rate
If a donor
wishes to make a regular net contribution of say £100 to the Chaplaincy,
this is paid from their gross income of £128.21, on which they have to
pay income tax. At a 22% basic rate of tax they pay £28.21 in tax,
leaving £100 to be paid to the Chaplaincy. The Chaplaincy can then
recover tax at the basic rate from the Inland Revenue and the gift is
worth more to the Chaplaincy than one that does not qualify for tax
Donors who are liable to tax at the higher rate
Donors who are liable to tax at the higher rate (40%) will have paid
£51.28 in tax. The Chaplaincy can re-cover tax only at the basic rate
but the higher rate relief can be claimed back by the donor – by
entering the details on their Self Assessment tax return. A net gift of
£100 to the Chaplaincy then only costs the donor £76.93. The Chaplaincy
will hope that this reclaimed tax will be used to increase the donation
at no extra cost.
Do you qualify?
Providing you pay as much tax (income and/or capital gains) as the
Chaplaincy will be entitled to reclaim on your donations in the same
financial year, you are entitled to use Gift Aid. For example, if you
wish to Gift Aid your charitable donations that total £100 in one year,
you will need to have paid at least £28 in to the taxman in respect of
that tax year.
Giving shares to the Chaplaincy is not a new idea, but since April 2000,
there is a new tax incentive to make Share Giving even more attractive.
Individuals who give shares to charity are entitled to claim back full
tax relief against the value of those shares. So, a gift of shares worth
£1,000 will only cost a higher rate taxpayer £600, or £780 for lower
rate taxpayers and furthermore, no capital gains tax will apply.
There are many reasons why giving shares might appeal to you. You might
hold windfall shares as a result of a privatisation or demutualisation
that are effectively gathering dust, making little difference to you,
but they could make a big difference to a charity. Or, you may own small
parcels of shares, perhaps as a result of an inheritance that you regard
as a bit of a nuisance as they generate more paperwork than income.
These could be turned into something of real value to others by donating
these shares to charity.
How does it work?
Tax relief is available to UK taxpayers donating shares and securities
listed on the UK Stock Market, the Alternative Investment Market, and
recognised stock exchanges overseas. It is also available for units in a
UK unit trust, shares in a UK open-ended investment company (OEIC), and
some similar foreign investments.
You can claim tax relief equal to the market value of the shares on the
day you make the gift, together with any associated costs such as
brokers’ fees. Furthermore, capital gains tax (CGT) on any increase in
the value of the shares since you bought them, will not apply. However,
if your shares have gone down in value, you should be aware that you
will not be able to use this loss to offset any other CGT liability you
For complete information see the Inland Revenue web site