If you are a UK taxpayer and make a donation to The Royal Ballet School, it could be worth considerably more if you sign a Gift Aid Declaration.
How does Gift Aid work?
If you give your permission, by completing a Gift Aid Declaration, The Royal Ballet School can reclaim the tax you paid on your donation from the Inland Revenue. This will increase the value of your donation by 25% at no extra cost to you. For example a £10 donation will be worth £12.50 and for every gift of £50 The Royal Ballet School will receive £62.50.
Do you have to give regularly?
It doesn’t matter whether you make a one-off donation or set up a regular standing order or direct debit. A single Gift Aid declaration will cover all your donations, and any future donations you make to The Royal Ballet School.
Who is eligible for Gift Aid?
Any individual who is a UK taxpayer.
Even if you do not work, you are still eligible if you are paying tax on any of the following:
- Personal or occupational pension
- Stocks and shares
- Bank and building society savings accounts
- Rental income
- Overseas and UK investment dividends
- You must pay an amount of income tax and/or capital gains tax for each tax year that is at least equal to the amount of tax that all the charities or community amateur sports clubs (CASCs) that I donate to will reclaim on my gifts for that tax year. (NB: other taxes such as VAT and council tax do not qualify)
- Corporate donations and those made from Charitable Trusts or Foundations are not eligible for Gift Aid
- Higher rate taxpayers can claim further tax relief on donations made under the Gift Aid Scheme
- You can cancel your declaration at any time by notifying The Royal Ballet School
Should you have any further queries about Gift Aid, please contact our Finance Department.