Increase your Donation with Gift Aid
If you are a UK taxpayer, you can maximise the effect of your donation by completing a Gift Aid Declaration linked here. This enables the Fitzwygram Foundation to claim an additional 25%, from HMRC at no extra cost to you
Carrying Back Gift Aid Claims
If you donate (with Gift Aid) during the current tax year, you can ask HMRC to treat that donation as being made in the previous tax year, provided that you paid enough tax in that tax year to cover all donations for which you have claimed Gift Aid and you have not yet submitted a return for that tax year.
Tax Relief
If you pay Income Tax at the higher or additional rate you will be able to claim relief based on the ‘grossed-up’ amount of your gifts. With a basic rate of Income Tax of 20%, gifts are grossed-up by multiplying the amount you give by 100 divided by 80. Higher Rate and Additional Rate Relief is given by increasing your basic rate band and higher rate band by the grossed-up amount of your gifts. In most cases, if you pay tax at the higher or additional rates (40% or 45%), your relief will be equal to the difference between basic rate and either 40% or 45%.
Corporate Donations
If you are donating via your company, the donation is not eligible for Gift Aid, however you can treat the donation as an allowable expense, making a saving on corporation tax.
