| The Metcalfe Society Gift Aid Declaration
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How you are helping The Metcalfe SocietyThe Metcalfe Society is a Registered Charity in the UK. This status allows The Society to reclaim from the Inland Revenue an amount of tax that applies to subscriptions from members who are UK taxpayers. This provides an additional income to The Society at no cost to yourself whatsoever. Who is eligible to give a Gift Aid Donation? In order for The Society to gain this additional income, we ask that if you or your spouse pay UK Income Tax, whether on earnings, pension or investments (e.g. bank or building society interest, or tax credits on dividend income), or Capital Gains Tax, then please pay your subscription as a Gift Aid Donation. Even if you only pay tax at the 10% starting rate, that tax can cover the tax to be reclaimed. However, if bank or building society interest has been reclaimed, then it must not be used to cover the tax on the donation. How long does a Gift Aid Declaration last? The Gift Aid Declaration can be made at any time and can be cancelled at any time, as there is no statutory requirement to donate for a fixed period of time. If, for any reason, you cease to be liable to pay Income Tax or Capital Gains Tax, then the Declaration ceases in the last year that tax is due. Higher Rate Taxpayers Higher rate taxpayers should advise their own Tax Office of the Declaration, so that the appropriate tax relief can be given in either Code or Assessment. Alternately, they should claim the difference between the higher rate and the basic rate of tax in their Self Assessment return. Have you previously signed a Deed of Covenant? The predecessor to Gift Aid was known as Deed of Covenant. If you have previously signed a Deed of Covenant for the society in previous years, you need take no further action as it automatically carries forward to be a Gift Aid Declaration. But can you remember whether or not you have signed a Deed of Covenant for the society in the past? If you cannot remember, there are two ways to check : Paying your subscriptions Please continue to pay your subscription renewal each year as normal as directed on The Societys Subscription Renewal Form that is distributed with the December Mecca News. Queries If you have any queries please contact either your own tax office or The Metcalfe Society Gift Aid Secretary. We hope that many of you will decide to Gift Aid your subscriptions, as we are sure you will agree, it is a very painless way of increasing society funds. |
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