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Gift Aid allows charities like CAFOD to claim the basic rate of tax on donations received from UK taxpayers. The basic rate of income tax is currently set at 20%.This is how it works:
- Suppose you give CAFOD £10,000
- CAFOD is able to reclaim from HMRC (Her Majesty’s Revenue and Customs) the basic rate tax you will have paid on the income you have donated to CAFOD
- This is calculated as 20% of £12,500 (the gross amount of your gift), i.e. £2,500
- The total that CAFOD receives is therefore your £10,000 plus £2,500 Gift Aid, i.e.£12,500
Declarations can be given in writing, either by post or email, and when making a donation online
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