Gift Aid Explained
· What is Gift Aid?
Gift Aid is a simple way to increase the value of your donation to Surti Muslim Khalifa Society at no extra cost to you. If you pay tax in the UK, SMKS can reclaim the basic rate tax (25%) on your donation. So if you donate £100 it is worth £125 to SMKS.
· Do I qualify for Gift Aid?
In order for SMKS to reclaim the tax you have paid on your donations you must have paid income or Capital Gains tax in the UK for each tax year (6th April to 5th April) at least equal to the tax that all the charities or community amateur sport clubs that you donate to will reclaim on your donations for that tax year. Other taxes such as VAT and Council Tax do not qualify.
· How do I sign up to Gift Aid?
The process is simple – all you have to do is make a Gift Aid Declaration. Please complete the form on the website and forward to the treasurer.
· What does the Gift Aid Declaration commit me to?
Nothing it just ensures that if you choose to donate to SMKS we can claim an extra 25% back form the Government.
· What is a Gift Aid Declaration?
A Gift Aid Declaration is a statement by an individual tax payer that they want a charity to receive the tax paid on their donation back form the government.
· How long does the Gift Aid Declaration last for?
To simply matters for both you and SMKS the declaration wording normally covers present, future and past donations. We can back claim four years and we will continue to claim until you tell us otherwise so long as you are eligible.
· What do I do if my tax status changes or I want to cancel my declaration?
To let us know if you stop paying tax or wish to cancel your declaration, please use our enquiry form on the website or contact SMKS treasurer