Pageant News 12 January 2011 - Updated 6 April 2011

The Gift Aid scheme applies to gifts of money by individuals who pay UK tax to UK charities. Donations are regarded as having basic rate tax deducted by the donor, so that charities can reclaim the basic rate tax from the 'gross' equivalent of the donation. (more details) Donations to Pageant include sponsorship, membership subscriptions and ethical gifts, so Gift Aid reclaims are an important part of our income.

Up until 5 April 2008, the basic rate of tax was 22%, which meant that charities could reclaim about 28p for each £1 donated by a UK taxpayer. On 6 April 2008, the basic rate of income tax was reduced from 22% to 20%. This meant that the amount of tax relief a charity could reclaim was reduced to 25p for every £1 donated. However, HM Revenue & Customs compensated for this by paying transitional relief in addition to Gift Aid reclaims, so Pageant has still been getting 28p for every £1 donated.

This transitional relief ended on 5 April 2011, so for the financial year starting on 6 April 2011, Pageant will only get 25p for each £1 donated.

Pageant is a UK Charity - Registered No 1093963