Cardinal Vaughan Memorial School

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Tax-Efficient Giving

Gift Aid

Donating to Cardinal Vaughan through the Gift Aid scheme means that the School can claim an additional 25% on top of your donation, at no extra cost to you. Higher and additional rate taxpayers also can benefit from income tax relief when donating through Gift Aid.

For the School to claim Gift Aid on your gift(s) you:

  • Must pay the same amount or more in UK income/capital gains tax in the year in which you make your gift(s); and
  • Make a Gift Aid declaration that gives the School permission to claim it

Your donations will qualify for Gift Aid as long as they do not exceed four times what you pay in income and/or capital gains tax in that tax year.

Higher or additional rate taxpayers can claim the difference between the rate they pay and the basic rate on their donations, either through their self-assessment tax return or by asking HM Revenue and Customs to amend their tax code. For example:

You donate £1,000 to CVMS. The School claims Gift Aid of £250 and you, as a higher rate taxpayer, can claim back £250 (20% of the gross value of your gift, £1,250).

       
Your Gift
With Gift Aid
Net Cost to You (40% taxpayer)
Net Cost to You (45% taxpayer)
£1,000 £1,250 £750 £687.50
£5,000 £6,250 £3,750 £3,437.50
£10,000 £12,500 £7,500 £6,875
£20,000 £25,000 £15,000 £13,750
£25,000 £31,250 £18,750 £17,187.50
£50,000 £62,500 £37,500 £34,375
£100,000 £125,000 £75,000 £68,750
£250,000 £312,000 £187,500 £171,875
£500,000 £625,000 £375,000 £343,750
£750,000 £937,500 £562,500 £515,625
£1,000,000 £1,250,000 £750,000 £687,500

For more on the Gift Aid scheme, please visit www.gov.uk/donating-to-charity/gift-aid.