Gift Aid


Also found in: Dictionary, Legal, Wikipedia.

Gift Aid

Scholarships or grants used to pay for one's education. Unlike loans, gift aid is not repaid, and unlike work-study programs, there are no requirements beyond academic performance to keep gift aid.
References in periodicals archive ?
SUPPORTERS of a charity shop are being urged to sign up to the Gift Aid scheme which enables the charity to claim cash back from the taxman.
You can increase your Gift Aid relief to 40% if you are a higher-rate taxpayer by keeping a record of the payment and including it in your tax return.
A WARWICKSHIRE charity has urged supporters to help it beat the credit crunch by adding Gift Aid to their donations.
And by signing up to Gift Aid, donations will instantly become worth 28% more.
Dave, aged 50 from West Bromwich, who has been registered blind for the past 20 years, hot footed it to the new Barnardo's store at High Street, West Bromwich, to encourage shoppers to sign up to the charity's gift aid scheme.
Under the Gift Aid scheme, charities can reclaim the income tax already paid by donors - in effect increasing the value of a gift by 28.
If you are a UK taxpayer, Justgiving will automatically reclaim 28 per cent Gift Aid on your behalf, so your donation is worth even more.
Therefore, if you give pounds 100 to the charity using Gift Aid in the tax year 2005/2006 that gift is worth pounds 128.
One of my employees has mentioned that there is a scheme called Gift Aid It which enables donations to charity to be made via PAYE.
As part of his pledge to simplify the tax system at every level, the Chancellor announced a number of reliefs aimed at maS king it easier for charities to reclaim the Gift Aid element of donations.
Since April, 2000, all donations to charities are made under the Gift Aid scheme, where donations are deemed to have had basic rate tax relief deducted by the donor.
2bn goes to the taxman which could be easily avoided by using Gift Aid and other tax efficient methods," she says.