The Ecole Polytechnique Charitable Trust is registered at the Charity Commission. It is therefore entitled to receive charitable contributions and claim tax relief from UK tax payers.
Once we have received your gift, we’ll send you a Declaration form for the Gift Aid:
The Gift Aid scheme is for gifts of money by individuals who pay UK tax. Gift Aid donations are regarded as having basic rate tax deducted by the donor. The Trust reclaims the basic rate tax from HM Revenue & Customs (HMRC) on its 'gross' equivalent - the amount before basic rate tax was deducted.
Basic rate tax is 20 per cent, so this means that if you give £10 using Gift Aid, it’s worth £12.50 to the charity.
If you pay higher rate tax, you can claim the difference between the higher rate of tax 40 and/or 45 per cent and the basic rate of tax 20 per cent on the total 'gross' value of your donation to the Charity.
For example, if you donate £100, the total value of your donation to the charity is £125 - so you can claim back:
- £25 - if you pay tax at 40 per cent (£125 × 20%)
- £31.25 - if you pay tax at 45 per cent (£125 × 20%) plus (£125 × 5%)
You can make this claim on your Self Assessment tax return, if you were sent one. For more information see section below ‘Telling HMRC about your Gift Aid donations’.
(Excerpts from: http://www.hmrc.gov.uk/individuals/giving/)
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