FinanceFinance
Gift Aid
As some of you may be aware, in April this year the basic rate of income tax dropped from 22% to 20%. Most of the time this would be considered good news, but not in terms of Gift Aid. For those of you who do not know, Gift Aid is a tax rebate from the Government based on offerings.
Previously, for every £1 donated by a taxpayer who has signed up to Gift Aid, we received 28.2p back from the Government. It is effectively money for nothing - all you need to do is to sign a piece of paper. However, from April the amount of tax that we receive back dropped to 25p per £ donated due to the above-mentioned change in the basic rate of income tax. This means that the amount of Gift Aid income that the congregation receives will be reduced.
A brief look at the accounts that I have published elsewhere on this website will show just how important Gift Aid is to the financial well-being of the congregation. Without it, many areas of expenditure would have to be significantly curtailed.
Hence, I would like to take this opportunity to request that people review their levels of giving in general, but especially in relation to Gift Aid. If you are a taxpayer and have not already signed up for Gift Aid, please consider doing so. As I said before, this is effectively money for doing nothing.
If you would like further information, please do not hesitate to contact Mrs Moira Drummond on 01506 441210.
You can download a PDF copy of the Gift Aid Declaration form by clicking here.
Accounts for period ended 31 Dec 2007
The accounts reflect the results for the full year to 31st December 2007. It should be noted that the results are at a draft stage, partly due to changes in the rules that govern the accounting for charities.
Income for the year is £84,737 and expenditure is £88,143. This gives a deficit for the year of £3,405. These results are down on both budget and the previous year. Throughout the year, the board have noticed that offerings have been slightly down on last year. In addition, fabric expenditure was higher than expected.
The accounts for the period ended 31 Dec 2007 can be downloaded as a PDF by clicking here.
