SUPPORTING THE PARISH FINANCIALLY AND GIFT AID
What is Gift Aid?
Gift Aid is the scheme used by charities and donors to reclaim tax on charitable giving which commenced in April 2000.
It means that if you are a UK tax payer, the Diocese can reclaim tax for your parish on all your donations. It can cover all giving, whether by weekly or monthly offertory, irregular donations, or single, one-off donations. We can reclaim tax on your donations at the basic rate equivalent, and as long as you have paid enough tax at whatever the rate, then your giving is eligible.
Overall, for every £1 you give, St Stephen's will receive an additional 25p from the Inland Revenue.
The tax you pay could be income tax (eg. on earnings, dividends, bank interest, etc) or capital gains tax. You should be paying at least the amount of tax during the tax year that charities reclaim on your Gift Aid during that tax year. If you pay tax at the higher rate you will receive additional tax relief.
How does it work?
You make a 'Gift Aid declaration' to the Church (see Fr Bernard). The Diocese can then reclaim the tax you have paid for St Stephen's. There has to be a record of what you give, so we ask you to use envelopes for cash, give by cheque, or give by bankers order. The declaration will cover everything you give.
Please consider paying by Standing Order. It enables regular giving and reduces administration costs. It will also mean that less cash will be held at the presbytery and less will have to be banked. The holding and banking of cash is always a security risk.
The donations collected each week are printed at the bottom of the last page of the Newsletter.
For more information please contact Fr Bernard after mass