Certain tax benefits enable us to increase the value of your gift and even allow you to receive a percentage of your income tax back.
What is Gift Aid?
It's a scheme introduced by the UK government which allows charities to reclaim the tax that supporters have already paid on their donations. For every £1 donated, the taxman gives us an extra 25p, so our income from your donations increases by almost a third. We can only claim on donations made within the last four years' tax unclaimed before this will be lost forever, so please act now.
Why 25p per £1?
It's linked to the current basic rate of income tax (which is currently 20 per cent). As a basic rate taxpayer, for every £1.25 you earn, you will pay 25p to the taxman and receive £1 in your pocket. It is this 25p we claim.
Am I eligible?
Provided that you are a UK taxpayer and have paid enough Income and/or Capital Gains tax in the current financial year to cover the amount that you donate to all charities and CASC's for that tax year, then you are eligible.
Note: Other taxes such as VAT and Council Tax do not qualify.
Where can I get a Gift Aid declaration form?
Gift Aid declarations appear on the bottom of our donations form. If you require a separate form please contact us.
What if I'm a pensioner?
We can still claim the full 25 per cent on your donations, providing you pay at least as much tax as we will be reclaiming in the year in which you made your gifts. As a pensioner, for example, you may still pay tax on a private pension scheme or a savings account, or pay Capital Gains Tax if you sell property or shares.
What if I'm a higher-rate taxpayer?
We can only claim the basic rate back, but this is still extremely valuable. You will also be able to claim additional personal tax relief on your self-assessment form.
What else does ticking the Gift Aid box commit me to?
Nothing at all. It just ensures that, if you donate to us, we can claim money back from HM Revenue and Customs.
How long does my declaration last for?
Until you tell us to stop. At the moment, and as long as you remain eligible, your declaration lets us reclaim past (up to four years), present and future donations.
What if I change my mind, or am no longer paying tax?
Please contact us by email to tell us that you no longer wish us to claim the tax on your gift.
Will it really make a difference?
Yes. You will be increasing the value of your donation, enabling us to help more cats.
Gift of shares
A gift of shares is a simple, tax effective way to support International Cat Care.
By giving shares to International Cat Care you will be exempt from Capital Gains Tax and you can receive income tax relief on the value of your shares.
Capital Gains Tax
Any gift of shares that you decide to donate to International Cat Care will be exempt from any Capital Gains Tax. This tax is what you ordinarily have to pay on any profits made when selling any shares.
Income Tax Relief
By giving a gift of shares to International Cat Care you will be able to reclaim the income tax on the market value of the shares you donate.
These tax exemptions mean that a gift of shares to International Cat Care will reduce the actual cost of the donation to you.
If you are a higher rate tax payer and you give £10,000 worth of shares to International Cat Care:
- You reclaim 40% higher rate tax relief of the £10,000 gift
- Your gift of shares worth £10,000 to International Cat Care would only cost you £6,000
If you are a basic rate tax payer and you give £10,000 worth of shares to International Cat Care
- You reclaim 20% basic rate tax relief of the £10,000 gift
- Your gift of shares worth £10,000 to International Cat Care would only cost you £8,000
To reclaim your tax, you simply need to include the details of all the gifts of shares you have made within the financial year on your Self Assessment Form.
The Self Assessment form can be completed online, please visit the HM Revenue & Customs website for details or contact the Self Assessment helpline on 0845 900 0444
How to make a Gift of Shares to International Cat Care
Although we can't give financial advice, we can give you all the information you need about how to give a donation of shares to International Cat Care.
- If you hold the share certificates then you will need to complete a Stock Transfer Form from the registrars of the share company, sign it and send it to back to them. They will then issue a new share certificate showing International Cat Care as the owner, and return it to us.
- If you hold shares in a nominee account, you simply need to get in touch with your broker asking them to transfer the shares in a certificated form to International Cat Care. Make sure that you keep a record of all correspondence with us and a copy of the transfer documents for your own records.
- You could also choose to sell the shares yourself then donate the proceeds to us. Contact us first to tell us that you are about to sell your shares in aid of International Cat Care. We will then ask you to confirm this in writing. It is vital you do this as HM Revenue & Customs need evidence that you sold shares and gave the monies from the sale to International Cat Care, so that you can benefit from tax relief.
- If you have a small amount of shares that you think wouldn't be economical to sell, you may want to consider donating them to Sharegift. This is a charitable organisation which specialises in accepting small numbers of shares with low values. They combine the shares and then sell them distributing the proceeds to a number of charities. When you contact Sharegift please mention that you are giving your shares on behalf of International Cat Care. For more information, please visit the Sharegift website, or call 020 7930 3737
Are you a higher rate taxpayer?
If you are a higher rate taxpayer, International Cat Care is only able to claim the basic rate of tax on your donation. However, you are able to reclaim the difference between the amount we reclaim and the 40% you pay yourself through your tax return. You may choose to donate it back to International Cat Care by completing the information on your self assessment form.
All you have to do is remember to include details of your charitable gifts on your tax form.
To reclaim your tax, you simply need to include the details of all charitable donations you have made within the financial year on your Self Assessment Form.
The Self Assessment form can be completed online at HM Revenue & Customs or contact the Self Assessment helpline on 0845 900 0444.
Payroll giving is a tax-effective way for you to give to International Cat Care straight from your salary. All donations are taken from your gross pay – before tax has been paid – so your gift is worth more to us because the money you would have been taxed on comes straight to us instead! This also means that it costs you less to make a donation!