Mvann
Member
As an aside to the gala fares thread, I thought it might be worth explaining gift aid fares.
Gift aid is where a charity can claim back tax when taxpayers make a donation to a charity.
Although charities can't claim this money for admissions, they can if you give a donation worth 10% more than the admission price. This then qualifies and the charity can claim, at the moment, 25p from the taxman for every £1 donated.
For donations up to £100, the charity can give the donor a gift up to the value of 25%. B
ut some items don't count to this value. A book or newsletter about the charity, it's aims and what work has been done is not counted in this value. Other items do.
At the Nene Valley railway diesel gala, by paying the gift aid fare, you got a £2 voucher to spend in the cafe, bar or shop and the railway can claim £5.50 back in tax. That can amount to a lot of extra money to keep projects going.
Gift aid is where a charity can claim back tax when taxpayers make a donation to a charity.
Although charities can't claim this money for admissions, they can if you give a donation worth 10% more than the admission price. This then qualifies and the charity can claim, at the moment, 25p from the taxman for every £1 donated.
For donations up to £100, the charity can give the donor a gift up to the value of 25%. B
ut some items don't count to this value. A book or newsletter about the charity, it's aims and what work has been done is not counted in this value. Other items do.
At the Nene Valley railway diesel gala, by paying the gift aid fare, you got a £2 voucher to spend in the cafe, bar or shop and the railway can claim £5.50 back in tax. That can amount to a lot of extra money to keep projects going.
