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Gift Aid Information and FAQ
Gift Aid is one of the simplest and easiest ways of giving to a charity. It is a scheme approved by HMRC which allows us to claim an extra 25p for every £1 that we collect from the sale of goods you donate to us – as long as you pay at least that amount of tax, appoint Towy Community Church Limited t/a Xcel Furniture shop, to act as your agent and give us permission to claim. This is at no cost to you!
For example: If Towy Community Church Limited t/a Xcel Furniture shop, sell the goods you donate to us for £20. We can then claim an extra £4.94 from HMRC (25% less a 1% + vat commission) making your gift worth £24.94 to us. Remember this is at no extra cost to you!
How do I know if I am a taxpayer?
If you have a salary, savings in a bank/building society, investments or a pension you may be a taxpayer. Your payslip, bank/building society or investment statement will show the tax you have paid.
What do I have to do?
All you have to do is complete a single Gift Aid Declaration which confirms that Towy Community Church Limited t/a Xcel Furniture shop, can act as your agent and sell the goods you donate to us, we the charity can claim back tax on the sale proceeds of your donation.
Will this affect my tax status?
No. As a taxpayer any donation you make to a charity has already had an element of tax removed from it, usually by way of income tax. What the Gift Aid scheme does is give back some of the tax to boost the value of your gift.
Can I Gift Aid my donations if I am a higher rate taxpayer?
Yes. You can then personally claim tax relief on the difference between your higher tax and the basic rate on your tax assessment form.
What if I have agreed to Gift Aid to another charity?
You can support as many UK charities as you like through Gift Aid. You just need to return a declaration to each charity that you support and be paying enough tax during the year to cover your total annual donations.
Can I cancel my declaration?
Yes. To do so just contact Xcel Furniture on firstname.lastname@example.org, send a letter to our head office or by telephoning 01267 225995.
Further information regarding Gift Aid can be found on the HMRC website.
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