Giving
Information on Giving and Church FinancesYour Generosity Matters
This page us currently under developemt but below are some pointers into how you can mazimise your giving to the church.
Making your donation go further
Every penny you donate to charity makes a difference – whether you are making your gift to us at Pier Avenue Baptist Church, or whether you wish to make a gift to any of the charities we are supporting through our website.
f you are willing to ‘Gift Aid’ your donation, you could be making an even bigger difference, without any extra cost to yourself. In the UK, your donations can be worth an extra 28% – which is great, but many people don’t know this, and of those that do, many do not act on it! Sadly, charities across the UK are estimated to be losing up to £700m per year in unclaimed Gift Aid.
Gift Aid allows charities to reclaim the basic rate tax you have already paid on the money you donate. It can increase the value of your gift by up to 28p on every pound. Gifts, whether modest or large, can be given through Gift Aid.
You just have to complete a declaration saying that you pay enough tax to cover what the charity will reclaim from HM Revenue & Customs.
And it gets better. If you are a higher rate tax payer, you can also claim back the difference between basic and higher rate tax. That means that for every pound you give away, you can get 18p back from the taxman – which you can keep, or give to charity. So the taxman could actually reward you for your generosity!
You can make your Gift Aid donation direct to the Church or charity concerned (ask to speak to the Treasurer who will be very happy to supply you with the relevant forms). Rest assured, the Treasurer will respectfully treat your donation in confidence.
Giving through your payroll
If your employer offers a payroll giving scheme such as Give As You Earn your donation to charity can be taken from your salary at source, before it’s taxed. This way, a donation of £10 a month effectively ‘costs’ £7.80. For higher tax rate payers, that same £10 donation would ‘cost’ a mere £6.
Giving shares
If you want to give shares to charity you could earn a double tax benefit – your gift will be exempt from Capital Gains Tax, and you can also reduce your taxable income by the market value of the shares. For example, if you are a higher rate taxpayer and donate shares valued £1,000, you could claim up to £400 Income Tax relief as well as saving up to £400 in Capital Gains Tax.
Other Non Cash Gifts and Shares
If you give land or personal assets such as works of art to charity, you’ll be exempt from Capital Gains Tax on the value of the assets you give. You may also be able to claim a deduction of the value of the gift against your taxable income.
Contact CAF on www.cafonline.org or telephone them on 01732 520 027 to discuss your personal circumstances.
Further Information
- Telephone the Church Office: 01255 474391 or finance@pabc.org.uk
- For more information on Gift Aid also go to the HM Revenue and Customs website on www.hmrc.org.uk
F.A.Q.
Frequently Asked Questions
General Responses to Questions
We will use these answers to questions that get asked from time to time to help you with enquiries.