If you are a UK taxpayer and you have given us permission to do so, we can claim Gift Aid (an additional 25p for every £1 donated). If you have not already completed a Gift Aid certificate, please let us know and we will send you one by return. Alternatively, one is available to download here.
Under current legislation, LCO can only claim back the basic tax rate of 20% in Gift Aid. However, if you pay a higher rate of income tax you may be able to claim the difference between your higher rate of tax and the basic 20% tax rate on the total ‘gross’ value of your donation. For example, if you donate £1,000, the gross value of your donation, including Gift Aid, is £1,250. You may then be able to claim back an additional: £250 – if you pay tax at 40 per cent (£1,250 x 20% (i.e. 40%-20%)) or £312.50 – if you pay tax at 45 per cent (£1250 x 25% (45%-20%))
You may then elect to receive this additional rebate as a direct refund, or if you prefer, you can choose to donate your refund directly to LCO. You can do this when you fill in your online tax return online, or by completing the SA100 Charity Form, and entering LCO’s charity code, which is XR19296.
If you do not complete a self assessment form, you can contact your local tax office and reclaim the tax on your donations using a P810 form. If you have any questions about this, please contact us, call HMRC on 0845 9000 444 or visit the HMRC website.