Making the Most of Gift Aid
The Haiti Earthquake has devastated the country, and news of the deaths and devastation has been everywhere in the last few weeks. Countries all over the world have launched their own aid packages or campaigns and many citizens are also looking at ways they can donate or raise money to help out.
One of the best ways to donate to the cause and maximise the amount of money you give is to use the UK?s gift aid scheme. The scheme is available to all UK taxpayers and allows charities to get some tax relief on the donation. This applies to almost all forms of charity giving but the recent drives for donations in Haiti make it worth pointing out again.
Using the system, a ?50 donation will result in the charity receiving ?64 with no extra monetary input from you. This is because the charities get the same amount of basic tax that you would normally have paid if the ?50 had been a part of your paycheque. The government are also providing 3p for every ?1 donated until the spring of 2011.
You can use the gift option by donating through the Disasters Emergency Committee where the minimum donation is currently ?5.
Of course, if you?re already struggling with your finances, you shouldn?t feel the need to donate. It?s much better for you to get your own finances in order first and donate when you feel financially capable than to be pressured into the idea. If you can?t donate a large sum of money but still want to help you can always ask friends and family to also donate a small amount, combining the total at the end.