Gift Aid has been available for many years to encourage individuals to give to charities. Since 2002, it has also been available to individuals making cash donations to registered CASCs.
How it works
Gift Aid works by providing income tax relief to individuals on their gift or donation and allowing the recipient CASC to reclaim income tax on the gift from HMRC.
The amount of tax benefit depends on whether the individual pays income tax at the basic or higher rate. In both cases the club will receive £28.20 for every £100 given in the form of a tax rebate from HMRC.
Furthermore, in the case of a higher tax payer, £23.10 will be refunded for every £100 he or she gives. This means between the club and individual they could benefit from a total tax refund of over £50.
Therefore Gift Aid can benefit both your club and your members.
