Gift Aid is a system administered by the Inland Revenue to promote charitable giving. It is important you understand it as it could boost the amount you raise by 25%.
For example, if you are a basic rate taxpayer, for every £1.28 you earn you only take home £1.00. If you give that £1.00 to charity with a Gift Aid declaration, Woodford Green AC with Essex Ladies can claim back the tax you paid to make your £1.00 back up to £1.28.
For sponsors/donors who pay tax at a higher or additional rate, Gift Aid can provide additional benefits. If they give £1 to Woodford Green AC with Essex Ladies we can still claim 25p from the Inland Revenue provided a Gift Aid declaration is in place. The individual can also declare the donation on tax returns alongside other charitable donations to gain additional tax relief.