The introduction of Gift Aid in April 2000 was meant to simplify the Deed of Covenant Scheme, which it has done from both the charity’s (HCVS) and members’ point of view. You now have to complete a simple form only once during the time you remain a tax-paying member of the Society, giving your name, address and membership number, and ticking the declaration that you pay Income Tax or Capital Gains Tax. The Society is able to claim a tax refund on donations and membership subscriptions, which currently amounts to £6.49, based on a subscription of £27.00, for every form signed. No-one else can benefit from this refund and each £6.75 does make a difference. The amount of Gift Aid recovered nationally since the scheme began is estimated by the Inland Revenue to be around £450 million out of a potential of nearly £2 billion! Please take a moment to complete and sign the Gift Aid Declaration form (below). THANK YOU!
1. You can cancel this declaration at any time by notifying the Society.
2. You must pay an amount of income tax and/or capital gains tax at least equal to the tax that the charity reclaims on your donation/subscription in the tax year.
3. If in the future your circumstances change and you no longer pay tax on your income and capital gains equal to the tax that the charity reclaims, you can cancel your declaration (see 1. above).
4. If you pay at the higher rate you can claim further tax relief in your Self Assessment Tax Return.
5. Please notify the charity if you change your address.
6. Further information can be found in leaflet IR65, available from your local tax office.