| If a member pays £15 for an annual subscription and declares that the payment is made under the Gift Aid scheme,
this payment is treated as having been paid after deducting basic rate tax (presently 20%).
In this example the grossed-up payment becomes £18.75 and we are able to reclaim £3.75 from HM Revenue & Customs.
There is no cost to members as long as they have paid sufficient UK income or capital gains tax to frank the tax reclaimed by us.
A member who pays tax at the higher rate of 40% will be able to obtain further tax relief, in this illustration, of £3.75 on their self assessment tax return.
The greater the subscription paid, the greater amount of tax we can reclaim. Under the standard life membership tariff of £250 for example, the payment would be grossed up to £312.50 and we would be able to reclaim £62.50 from HMRC.
For a subscription to be eligible under the Gift Aid scheme, the member simply needs to make a gift aid declaration, which may be submitted on paper or online. You may fill out FoMA's printable Gift Aid Declaration form and submit it by mail to the Hon. Treasurer, Mr Simon Jennings, to the following address:
Alternatively, as a live signature is not required, you may submit FoMA's online Gift Aid form, which is automatically sent by email to the treasurer. It should be noted that only those individuals who are UK taxpayers and have paid income or capital gains tax in the tax reclaimable by the charity may make a Gift Aid declaration.
You may download/view the printable Gift Aid Form | request printed form to be mailed to you | submit the form online.