Gift Aid is a scheme which allows registered charities to claim from HMRC the basic rate of tax their donors have paid. Gift Aid increases the value of donations by 25%, so it means even more money goes to the causes you care about – and it won’t cost you extra.
Put simply, Gift Aid means charities get an extra 25p for every £1 donated.
Historylinks can only claim Gift Aid on monetary donations from your own funds and if you’ve paid UK Income and/or Capital Gains Tax during that tax year. The tax you pay in that tax year must be at least equal to the value of Gift Aid the charity or CASC will claim on your donation(s).
If you stop paying enough tax, it’s important to tell all of the charities you’re donating to. If you don’t let them know, and you pay less tax in the tax year than the amount of Gift Aid they’re claiming, you will need to pay any difference back to HMRC.
Eligible museums and other charitable attractions can invite a donation in lieu of an admission fee and reclaim Gift Aid on that donation. However, for Gift Aid to be claimed on admissions one of the following conditions must be met:
1) The museum can request a voluntary donation worth 10% or more than the normal admission price, or
2) A donation is made in return for the right of admission to the property for a 12 month period at all times when the property is open to the public
Historylinks chooses to ask for a donations in lieu of admission of at least 10% more than the standard price.
For more information see the HMRC guidance on Gift Aid