Gift Aid

The Finance Act 2000 swept away many of the old rules and regulations relating to deeds of covenant. Under the new Gift Aid rules it is possible to make every donation to a charity a tax effective donation.

If you are able to help us by making a donation, the effect for BGS is to increase the value by 25%. This is based on basic rate tax at 20%.

For the Schools to benefit in this way you simply need to complete a gift aid form and confirm that you are a taxpayer.

There may also be benefits for you as set out in the example below.

For every donation of £100 that we receive together with a gift aid form Bury Grammar School can claim a further £25 from the Inland Revenue, making the total value to BGS £125. In addition, if the donor is a higher rate taxpayer, he or she can claim the difference between the higher rate of tax, which has been paid, and the basic rate of tax. If the higher rate is 40% the taxpayer can, through the annual tax return, claim a further 20% of the gross donation of £125 i.e. £25, making the net cost to the donor just £75.

The same rules apply to regular monthly and annual donations however large or small.

Please note that for your gift is to qualify for gift aid you must pay an amount of income tax and or capital gains tax at least equal to the tax that the Schools reclaims on your donations in the tax year.

Download the Gift Aid Form here.