The Parish Church of St John-at-Hampstead

TAX – GIFT AID – DONATIONS – EFFICIENT GIVING

Income Tax

If you give donations under gift aid Hampstead Parish Church can reclaim the standard rate of tax of 20% PLUS 2% transitional relief until the end of the tax year in April 2011.

If your income is between £100,000 and £112,950, you have a marginal rate of tax of 60% because of the loss of the personal allowance.

If your income is over £150,000 you have a top rate of tax of 50%.

Gift aid donations will reduce your taxable income and I am aware that some readers have already factored this into their giving for the current tax year.

Capital Gains Tax
The increase in capital gains tax to 28% makes it more attractive for any parishioners having substantial gains on shares to transfer them to the Church free of tax. If the donor then wishes the Church to keep the entire gift or distribute part to other charities is something that can be arranged with the Church treasurer.

Please contact the Treasurer, Inigo Woolf on [email protected]

CHURCH FINANCES
I am delighted to report that for the first time in ages we have received enough income in the first seven months of the year to match our expenditure.

However our forecast for income for the remaining months requires us to generate £3,200 more in gift aid to enable us to breakeven for the year to 31 December 2010. This is achievable as it is less than 5% of the anticipated voluntary income we are expecting.

We shall also require more income in 2011 to make up for the loss of transitional relief on gift aid and the increase in VAT before taking into account any new initiatives and/or any reduction in current activities.

Please contact the Treasurer or the Stewardship Secretary, Chris Cole [email protected]