Financial aid is the lifeblood of any Charity and we have made provision for various different payment methods and opportunities. There are a number of schemes operated by the H.M. Revenue & Cusoms, which make it easy to give to the RVRHT in a tax-efficient way.          Gift Aid          Payroll Giving          Legacies          Income Tax Repayments     GIFT AID FOR THE RAILWAY If you pay tax in the UK, then Gift Aid is a simple way to increase the value of your gift to the RVRHT. Making your donation using Gift Aid will enable the RVRHT to reclaim the basic rate tax on your gift to them. This means that if you give £50 using Gift Aid in the current tax year, that gift is worth £64.10 to the Railway. A 28% increase. Magic ! You can make payments by cash, cheque, postal order, direct debit, standing order, debit or credit card or even in a foreign currency (including the euro). Subject to a few rules, you can give any amount, large or small, regular or one-off. If you are a higher rate taxpayer, you can even claim tax relief on the difference between the basic rate and higher rate of tax, reducing the cost to you of your gift even more. If you do not pay tax, you should not use Gift Aid. FREQUENTLY ASKED QUESTIONS; How does my gift qualify for Gift Aid? You complete and give the RVRHT a simple Gift Aid Declaration form (GIFT AID DECLARATION) which states that you wish to make a donation, or series of donations, under Gift Aid. The RVRHT can only reclaim the basic rate of tax if you have paid enough tax in the tax year to cover the amount reclaimed on your gifts. The tax year runs from 6 April one year to 5 April the next. How do I know I have paid enough tax? For most people it will normally be easy to determine if you have paid enough tax to cover the amount the RVRHT will reclaim. That tax paid can be income tax or capital gains tax at any rate and can include tax paid on savings and income. You can calculate the amount of tax the RVRHT will reclaim using the following formula; Amount of gift x basic rate of income tax                            100 minus the basic rate The basic rate of income tax is now 20%. However for three tax years, H M Revenue & Customs will not only repay tax at the basic rate, but will add a 2% supplement. Until the 5 April 2011 therefore, the RVRHT will continue to receive tax repayments at the same 22% rate as previously. Therefore if you make a gift aid donation of (say) £50, the RVRHT will reclaim tax of £14.10 (ie 22% of £64.10), and your gift becomes worth £64.10.   For further information, please contact David Felton c/o Robertsbridge (RVR) Station, TN32 5DG.  01580 881833.   PAYROLL GIVING TO THE RAILWAY Another simple method of giving to the RVRHT in a tax-efficient way, is Payroll Giving. If your employer operates a Payroll Giving scheme, you can make donations to the RVRHT direct from your pay packet. It's a simple way for you to give regularly to the Railway from your pay and get immediate tax relief. If your employer does not operate a Payroll Giving scheme, you might want to ask if they would be willing to start one. Your employer can find out how easy it is to run a scheme by calling 0845 3020203. There are benefits and incentives for him to start such a scheme. Any employee or pensioner can participate as long as your employer deducts tax from your pay or pension. The method is very easy. You only have to complete a donor form (obtainable from your employer’s HR department) and everything else is then done for you. There are no limits on how much or how little you can give. It is entirely up to you. You can vary the amount of the gift or cease at any time.   FREQUENTLY ASKED QUESTIONS; How does Payroll Giving work? Once you have authorised your employer to deduct a gift from your pay, they will deduct this amount from your pay and hand it over to a Payroll Giving agency approved by H.M Revenue & Customs. The agency will then distribute the money to the RVRHT. How do I get tax relief? Your gift is deducted from your pay or pension before your tax is worked out. So you pay tax only on the balance. This means that you get your tax relief immediately at your highest rate of tax. (Your National Insurance contributions are not affected). What are the benefits of Payroll Giving? A monthly gift of £5.00 gross (for example) will only cost you £4.00 if you are a basic 20% taxpayer, or £3.00 if you are a higher rate taxpayer. Just think, you give £3 out of your net pay and the Railway receives £5, subject to a small administration fee. Magic ! For further information, please contact David Felton c/o Robertsbridge (RVR) Station, TN32 5DG. 01580 881833.     LEGACIES & OTHER GIFTS TO THE RAILWAY Inheritance tax Outright gifts and bequests to the RVRHT are completely free of inheritance tax. Capital gains tax You are not liable to capital gains tax when you make a gift of assets, such as land or stocks and shares, to the RVRHT, even if the asset is worth more when you donate it than when you acquired it.   For further information, please contact David Felton c/o Robertsbridge (RVR) Station, TN32 5DG.  01580 881833.   FINANCIAL HELP FOR THE RAILWAY THROUGH YOUR ANNUAL INCOME TAX RETURN   Have you overpaid any income tax for the year ended 5 April 2008 and would you like to use it to directly benefit the Railway? If so, you can choose to ask H M Revenue & Customs to give all or part of your repayment direct to the Rother Valley Railway Heritage Trust. How to do this; On page SA100 Charity “Would you like to give your tax repayment to charity?”; i) BOXES 3 AND 4: TICK BOX 3 (IF YOU WISH TO DONATE ALL OF YOUR REPAYMENT) OR COMPLETE BOX 4 (IF YOU WANT TO DONATE ONLY A CERTAIN AMOUNT FROM YOUR REPAYMENT) ii) BOX 5: ENTER F A A 5 0 U IN THE SIX SPACES AT BOX 5 iii) BOX 6 TICK BOX 6 NB:  your donation will be anonymous unless you also tick box 7   For details, please contact David Felton c/o Robertsbridge (RVR) Station, TN32 5DG. 01580 881833 or by email to reception@rvr.org.uk