As St David’s College PTA is a registered charity, Gift Aid can be claimed on donations made to the PTA, provided no goods or services have been given in return for the donation.
A person making the donation has to be a taxpayer and must have completed the appropriate declaration in order for the PTA to reclaim the tax paid on the donations. The claim, if successful, increases the value of the donation by 25%. For example, a £10.00 donation can be turned into £12.50 without costing you, the donor, any more. The Gift Aid declaration form is available to download from the Documents section. This declaration can cover all future donations.
Individuals paying the higher tax rate of 40% can also reclaim some further tax . For a donation of £10 with Gift Aid of £2.50 totalling £12.50 the higher rate tax payer can claim back 20% (40% – 20%); giving them £2.50. The claim is made by entering the donation in the Gift Aid section of their annual tax return.
