Gift Aid
GIFT AID CHANGES - THE CHURCH’S LOSS !
((BUT NOT YET! In the budget on March 12th 2008 the chancellor deferred the reduction in Gift-Aid tax refunds to charities for at least three years. This is very good news. The details below show the drop that would have occured in our finances - a drop that will still however happen - albeit later)).
GIFT AID makes a lot of difference. Please sign up if you don't gift aid at present. SEE BELOW
Basic rate of tax will drop from 22% to 20% from 6th April ’08.
The Tax refund received on donations to the church that are Gift Aided would have dropped from 28p per pound to 25p per pound.
This would cost our diocese around £70,000 next year.
For Our Lady of Lourdes the effect on collections would be as follows :
Offertory collections paid by standing order or through the envelope system that are gift aided amount to about £11000 a year.
At present with the tax refund at 28p in the pound this generates a refund of £3080.
With a tax refund of 25p in the pound the refund would drop to £2750. i.e. a drop of just over £300.
Of even greater significance is the money we receive that is not gift aided. At present we get about £12000 a year in offertory collections that is not gift aided. This is a loss in tax refunds for this year of £3360 and in future will be a loss of £3000 a year.
If even half of this were signed up for gift aid then the church would gain £1500 a year or about £1200 a year if you count the £300 the church is going to lose.
APPEAL:
1) Review your existing Gift Aid arrangements and see if you could increase your contribution.
2) If you have not yet Gift Aided your donations, PLEASE decide now to take part in this scheme. It will cost you nothing. The extra that comes is tax that the Government has already taken from you!
3). Please take a leaflet from the back of the church or ask the treasurer to send you a form.
Contact
"Drumlanrig",
Ross Road,
Newent,
Gloucestershire,
GL18 1BG
01531 821 647
01531821647