Making a Donation - Gift Aid
If you are a UK taxpayer, we can benefit enormously if you agree to Gift Aid your donation to the HABS Foundation. You must, however, pay an amount in Income Tax and/or Capital Gains Tax at least equal to the value of the tax the HABS Foundation will reclaim on your donation in the appropriate tax year.
Lower Rate Taxpayers. Although the lower rate of tax has been reduced to 20p, Revenue and Customs have granted an extension to charities to continue to reclaim Gift Aid at the level of 22p for two years.
If a lower-rate tax payer agreed to Gift Aid their gift of £1,000, the HABS Foundation could claim a further £280, making the total value of the gift £1,280.
Higher Rate Taxpayers. If a higher-rate tax payer agreed to Gift Aid their gift of £1,000 to the HABS Foundation, the total value of the gift to the school would be £1,280. However, the higher-rate tax payer could also reclaim £230 from Revenue and Customs in their tax claim. In short, the donation of £1,000 by a higher rate tax payer would actually only cost £750, while the Foundation would still receive £1,280.