A covenant must be for a minimum period of 4 years and enables
us to reclaim tax at the standard rate (22% from 5th April 2000) on
the grossed-up value of the donation.
Example: A covenanted
gift of £100 would enable us to reclaim a further £28.21 increasing
the value of the donation to £128.21 at today's tax rate. To avoid additional
paperwork you may also like to consider a lifetime covenant which may
be revoked at any time after 4 years.
If you would like
to donate on a monthly rather than annual basis, a donation of £10,
for example, would be worth £12.82 to us.
Gift Aid is another way of donating that will increase in value
because of tax advantages. The donation must be over £250 to qualify.
Example: A gift
of £1000 would enable us to recover additional tax (at the standard
rate, see above) increasing the value of the gift £1282.10.