Tax-Efficient Donations by UK Taxpayers
Although the Parish is not a registered UK charity, exemption from UK income tax is granted when donations are channeled through the Diocese in Europe. The tax which has been paid, on the giving of Church people, can be recovered from the Inland Revenue. This is good stewardship of resources.
Gift Aid: How does it work?
Gift Aid is surprisingly easy to use. It can apply to donations of any amount, large or small, cheque, postal order, direct debit, standing orders in Sterling or Euro. If you are a UK taxpayer, all you have to do is sign a one-off Declaration Form or put your donation in the yellow Gift Aid envelopes and fill in the required details.
The best way is to use the Declaration Form because it is done only once and can apply to all donations you have made in the last four years and to all future donations.
If you are a higher rate taxpayer looking to reclaim tax from your donation, all you have to do is remember to include details of your charitable gifts on your tax form. Also, from April 2003, higher rate taxpayers were able to reclaim tax relief from donations paid to charity both during the previous tax year and during the current tax year, which means the relief is paid that much quicker.
Do you qualify?
Providing you pay as much tax (income and/or capital gains) as the Parish will be entitled to reclaim on your donations in the same financial year, you are entitled to use Gift Aid. For example, if you wish to Gift Aid your charitable donations that total £100 in one year, you will need to have paid at least £25 in to the taxman in respect of that tax year.
Tax efficient giving for Spanish tax payers
If you are a Spanish tax payer there is also a way to increase the value of gifts to the Parish, which enables the Church to recover the tax paid by them on their planned gifts. This scheme operates through the Agencia Tributaria.
Under this arrangement Spanish taxpayers can reclaim tax at the end of each year on the value of gifts made to the Parish as a part of their annual tax return. The amount reclaimed is then available if so desired, to increase the weekly or monthly gifts to the Parish.
Giving can be by way of a Standing Order or by signing the one-off form and using the existing numbered envelope scheme.
And under this scheme there is the further advantage that additional gifts, whether regular, occasional, or even one-off, can take advantage of the tax rebate. This makes it a flexible and generous way to benefit the Parish at no additional cost to yourself.
Spanish taxpayers are encouraged to sign up for this scheme as this is the most advantageous way for your gifts to be worth more to the Parish.
Our Treasurer, Judith Austwick, would be very happy to discuss these schemes with you. Naturally any discussion would be in strictest confidence. For more details or to contact our Treasurer, click here.
PLEASE CONSIDER A GIFT TO THE ANGLICAN PARISH OF
NERJA AND ALMUÑÉCAR THROUGH A LEGACY
“Most of us, I am sure, do not like to dwell to much on thoughts of our own mortality.
“Yet for the Christian, it is essential that we should spend some time contemplating the journey of our life from its beginning to its end.
“Part of that process is practical as well as spiritual; there are family and friends for whom we might like to make some financial provision, to hand on valued possessions to those whom we love.
“Whilst we all make a valuable contribution to the Church during our lives it would also seem fitting that we should consider making some financial provision for the continuation of its mission after we have gone.
“I commend this scheme to you and earnestly request that you will consider making a legacy to help continue the work of the Anglican Parish of Nerja and Almuñécar in the future. If you, for example, have no surviving relatives and have not made a will it is the state that benefits from your life-long labours!
“With my warmest greeting and every blessing to you all.”
Our parish is totally self-financing and its work is only possible because of the generosity of many people – its worshippers and supporters.
Should you wish to extend your generosity beyond the boundaries of life and arrange a legacy for the Anglican Parish of Nerja and Almuñecar, we would suggest you use the following wording when making a U.K. will:
“I give to the Diocese in Europe whose registered office is situated at 14,Tufton Street London SW1P 3QZ, the sum of ….. Pounds to be applied for the mission and extension of the Anglican Parish of Nerja and Almuñécar and I declare that a receipt from the Diocesan secretary for the time being of the Diocese in Europe will be sufficient receipt for my executors for the same.”
By using the foregoing wording you should ensure U.K. Inheritance Tax is not applied to your gift.
For those making a will in Spain the following wording, translated into Spanish by your lawyer, should be used:
“I give to the Parroquia Anglicana de Nerja y Almuñécar, NIF: R2900337C, Domicilio Social: Calle Jilguero (Almijara II) Num. 19, 29780 Nerja, Malaga and registered with the Federacion de Entidades Religiosas Evangelicas de Espana 4510-SE/A, the sum of ….. €uros to be applied for the mission and extension of the Parroquia Anglicana de Nerja y Almuñecar and declare that a receipt from the treasurer for the time being of the Parroquia Anglicana de Nerja y Almuñécar will be sufficient for my executors for the same.”
By using the foregoing wording you should ensure that Spanish Inheritance Tax is not applied to your gift.
If you have any questions or would like any help please contact our Treasurer.
Your gift will help future generations to worship and carry out God’s mission here in the Anglican Parish of Nerja and Almuñécar.