What is Gift Aid?
Using Gift Aid means that for every pound a UK taxpayer gives to the Museum, the Inland Revenue will reimburse the tax paid and give this directly to the Museum. This means that a gift can increase by nearly a third - at no extra cost to the donor.
For example:
- A gift of £20
- Rebate from the Inland Revenue adds £5.64
- Giving a total of £25.64
Higher rate taxpayers personally benefit by enabling the Museum to claim the basic rate, while they obtain the higher rate paid via their self-assessment tax return.
What do I have to do?
Under this scheme, the Imperial War Museum can claim the tax back on any financial donations make by UK taxpayers. There is no need to disclose tax details, regardless of the amount or frequency. The only requirement is the completion of an Imperial War Museum declaration, stating that Gift Aid can be claimed on the donation. Shares can also be given.