Gift Aid is a government initiative which allows the Group to increase the value of ‘subscriptions’ at no extra cost to the ‘donor’. For every pound that is given, the Group can get an extra 20 pence (January 2012) from HM Revenue and Customs, helping your ‘donation’ go further.
In real terms, this means that if a Group had 50 young people each paying £60 per year subscriptions, the Group would have an income from subscriptions of £3,000 per year. Assuming all of the parents/guardians of the young people are taxpayer’s then the potential value of Gift Aid is around £600 per year.
The 151 Gift Aid scheme is based on ‘subscriptions’ being classed as a ‘donation’ and is operated by the Group Treasurer with help from members of the Group SAS. Parents/Guardians of the young people in the Group complete and sign a form ( providing they are UK taxpayers) and the Group is then able to reclaim the tax paid by the taxpayer on the annual amount ‘donated’.
Gift Aid Form can be found here.