Gift Aid - Frequently Asked Questions

• Am I eligible to make a Gift Aid declaration?
  To qualify for Gift Aid, you must pay an amount of UK tax (income tax and/or capital gains tax), which is equal to, or more than, the amount we will reclaim in the tax year.

• How will I know if I pay income tax?
  Look at papers relating to the monies paid to you. Savings/bank accounts normally deduct tax at source so a bank statement will normally show if tax has been deducted. Individual share dividend certificates also show where tax has been deducted.

• How will I know if I pay income tax on my pension?
  As a pensioner you will receive a P60 each year, keep this safe, it will show any tax deductions.

• Do I pay capital gains tax?
  You are usually aware if you pay capital gains tax, as you would have had to declare it. This would have been declared by yourself or by your accountant/financial advisor.

• I'm not a UK taxpayer. Can I still help?
  Yes, by ticking the non-taxpayer box on the declaration. This will help our records.

• I've already made a Gift Aid declaration to FIBOT. Do I have to fill in one every year?
  No. You only ever need to fill in one form: all your donations and / or membership subscriptions are covered under one declaration. You can cancel your declaration at any time.

• Does Gift Aid affect any of the covenants (pledges) I have signed for in favour of FIBOT so far?
  A Gift Aid declaration can replace any existing covenants you have, so there is no need to have separate covenants for your membership and or donations.

• Do I have to indicate that I have made a Gift Aid declaration on a tax return?
  Not if you are a standard rate tax payer and do not receive a tax return from HM Revenue & Customs. However, if you do receive a tax return, you must declare the information.

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