Do you donate to charity?
Perhaps you donate money to charity when there has been a significant disaster, such as the Haitian earthquake of January 2010. Then again, you may give a regular monthly amount of money to a favourite charity. This could be to a help support a child in a far-off land.
In the UK there are schemes such as adopt a grandparent. The people up for "adoption" are from poor countries and many have to try to carry on working a little, just to to survive. For what will be a meagre sum of money to you there life can be made a little easier.
There is no doubting that giving money to charities is great for all concerned
No matter how small a donation, it can make a difference. What may seem like peanuts on the surface, could be a veritable fortune in a foreign land.
However, there is an easy way to give more money in the UK, without it costing you a penny
To qualify for gift-aid you must be a UK tax-payer. This is the only way to make a donation to charity worth more. UK residents who are unemployed or retired, will not be eligible. However, most people these days fall into the tax paying category. After all the government does not let many people escape.
Usually on making a donation to charity in the UK, someone will ask if you are a tax-payer. When filling in a charitable donation, direct debit form there will usually be a box to tick. Not everyone will want to tick this box but it only has positive effects.
By ticking the box it confirms you as a UK tax payer, one that is prepared to let the charity reclaim your tax. This has the effect of making you donation more valuable.
Gift Aid will increase a cash donation considerably
£10 will become £12.80
£100 will become £128.00
£1,000 will become £1,280.00
These examples use the current British tax system. This of course could change. In future budgets, this Gift Aid could be increased, may decrease or could be abolished. As austerity bites the British government is looking at gleaning every penny it can.
Currently Gift Aid is still something which you can, and hopefully will, utilise in order to maximise your charitable donations.
There are always so many good causes and never enough money to go around charities. As people's incomes continue to take a nose-dive charities lose out. Remember even a small donation will help a charity reach its goal or just keep in operation.
Note: As gift aid rules may change here is a link to the government's website, which has the latest rules and regulations.