This is mentioned in various places but I thought it deserves a better explanation.
Gift Aid is a government initiative that allows charities to increase their income at no cost to the individual. When you give a donation or pay a membership subscription, by signing the Gift Aid Declaration you allow the Friends charity to claim the income tax and/or capital gains tax that you have paid (or will pay in the tax year) regarding the donation amount or membership subscription.
The Friends charity then submit the Gift Aid declaration to claim that tax, which is currently an extra 25p for every £1 you donate or spend on membership.
Comments are closed.