Making the most of tax breaks in giving to IMPACT
Every donation made to IMPACT touches the life of someone else – whether it is a child in The Philippines or Kenya, a young mother in Bangladesh or the UK, or an older person in Nepal or India – by helping to prevent or treat needless disability.
Gift Aid – A gift that grows
But there are ways in which a donation can be made to reach even further – with a top-up from the taxman. When a donation is made under the Gift Aid scheme, the taxman makes a contribution of his own by enabling IMPACT to reclaim the income tax that our supporter has already paid on the amount of the gift. There is no extra cost incurred by them.
Use our Gift Aid calculator to see how your gift could grow
For every pound a supporter donates to IMPACT, we can reclaim more directly from the taxman (based on a basic rate of tax at 20%).
To be able to claim Gift Aid, our supporter must pay income or capital gains tax equivalent to the amount we reclaim. All you have to do is complete a simple online form (or you can print and send us this form) saying that you are an income or capital gains taxpayer and this will cover all of the donations you have made in the past six years and any future donations. It doesn’t cost you an extra penny!
So a gift of £250 would, at present rates of Gift Aid, grow by £62.50 – the taxman’s contribution covering the cost of two more operations to restore sight, hearing or movement to another person in our overseas programme.
Higher rate taxpayers are eligible for additional tax relief.
The benefits of Gift Aid Giving
The IMPACT of your gift
The Added Bonus Of Your Gift
|£40||Restores sight, hearing or movement to another person in our overseas programme||£10||AND protects children from malnutrition|
|£50||Provides a health worker with instruments to test hearing||£12.50||AND provides another child with a calliper or orthopaedic shoe|
|£100||Trains and equips a traditional birth attendant||£25||AND establishes another home garden to feed a family|
|£100||Funds the start-up of a women’s club as a forum for health education||£25||AND screens almost 100 more children for signs of disabling conditions|
|£300||Establishes 12 more home gardens to provide nutritious fruit and vegetables||£75||AND protects 75 more children through immunisation|
An added incentive for giving
There are also other ways in which the taxman will help our supporters to help us.
A bequest to IMPACT would not incur Inheritance Tax. A legacy is one of the most valuable and enduring ways in which to help IMPACT make a difference to the lives of others. Please contact us if you would like a free copy of our information leaflet ‘A Legacy with IMPACT’, or you can download a copy from our ‘Remember us in your Will‘ page.
Where employers run a Payroll Giving Scheme it is possible to arrange for a specific amount to be deducted (before tax) from each pay cheque for donation to IMPACT meaning it costs you less to give more. Many employers will also match donations.
Gifts of Shares
Very generous tax relief is available on the gift of shares. Supporters pay no Capital Gains Tax on the disposal of the shares and can deduct the market value of the gift from their taxable income. This is of especial benefit to higher rate taxpayers.
Please see HM Revenue & Customs website for more information.