You may be aware that the RNRMMC, as a Service Sports Club, enjoys charitable status. This means that your annual subscription can be treated as Gift Aid and, if you are a UK taxpayer and make a Gift Aid Declaration, the Inland Revenue will pay to the Club a sum equal to 28% of your subscription.
What is in it for the Club? The Club can claim 28% of subscriptions paid by members declaring their subscriptions as Gift Aid. This means an extra £3.64 for each £13.00 subscription gifted to the Club. This is a very useful source of income that we can plough straight back into the business of the Club - supporting mountain activity throughout the Royal Navy and Royal Marines. Under the new Gift Aid scheme, donations made since April 2000 can be treated as Gift Aid so you can backdate your declaration and we can claim for additional years.
What is in it for you? Gift Aid costs you nothing, but as a Club Member, there is an immediate benefit from an increase in Club funds which will hopefully help offset the need for further rises in subscription fees in the immediate future. Additionally, if you are a higher rate taxpayer, you can personally claim tax relief based on the difference between the basic and higher rates. For example, if you pay tax at 40%, and pay a subscription of £13.00, we can receive the £3.64 (28%) from the taxman, making a total of £16.64 (called the gross donation). You can claim relief for 18% of this, which will reduce your tax bill by £2.34 - why look a gift horse in the mouth?
How do you make a Gift Aid Declaration? Easy - just complete a declaration form and send it to the Treasurer. You only need apply once and the Club can continue to collect Gift Aid each year until you cancel your declaration or leave the Club.
How do you cancel your declaration? Just inform the Treasurer, preferably in writing.
Do you have to do anything else? In order to claim Gift Aid, the Club does need your current address - please keep the club informed of your whereabouts. One change of details return is all that is needed to ensure that you continue to receive newsletters and bulletins - and we continue to benefit from Gift Aid.
Please print and sign the linked form declaring your subscription as Gift Aid - you have nothing to lose and our Club can only benefit!
Need more information? For the IT minded, full details are available on the Inland Revenue website at www.inlandrevenue.gov.uk or you can ask the Treasurer. |