What is ‘Gift Aid’?

GIFT AID
What is ‘Gift Aid’?

If you pay income tax, HMRC will add a refund of 25% to the subscription you make to Beeston u3a. This Tax Refund costs you nothing, providing you pay as much tax as the u3a claims back. Current UK Government tax policies, in particular freezing the tax free allowance, mean that more people are now paying income that previously did not.

How much does Beeston u3a get?

From a subscription of £15 Beeston u3a can claim a tax refund of £3.75. For the tax year 2022/23 Beeston u3a received £2,355 from HMRC. This is a significant amount that helps us to keep the subscription rate as low as possible.

How does the system work?

On your renewal form, or application form if you are a new member, there is a box asking if you would like to ‘Gift Aid’ your subscription and to tick the box accordingly. At the end of the tax year a claim is made to HMRC based on the number of people who have ticked the box and the amount of the subscription they paid during the tax year.

Are my details supplied to HMRC?

Your name and address and how much you have paid are sent by us to HMRC. The forms have to be kept by us for seven years in case they need to be checked, but they are held securely by the Membership Secretary.

What if I have gift aided in the past?

To make sure that our records are accurate HMRC requires that Gift Aid authorisations are up to date, so we do need you to tick the appropriate box each time you fill in a form or renew online. It helps us know if you are no longer paying tax and therefore are no longer eligible for Gift Aid. Similarly, if you are now paying income tax but were not before then we would like you to sign up for Gift Aid.

If you are unsure as to whether or not you have signed up for Gift Aid, please contact the Membership Secretary.

3 October.2023 AJW/RJT