The Thakarki Trust (TTT) & Gift Aid
Donations received from U.K. resident tax-payers now attracts aid from the U.K. Government under the auspices of the Charitable status of: The Thakarki Trust.
As an example this means that under the current rates of tax for each £100 donated by a U.K. tax payer the TTT will receive an additional £25 from the HMRC.
This should prove to be a useful additional income stream in the years to come.
In order for the TTT to effect this the completion of a declaration is required.
This will cover any donations from 7th March 2014 & will subsist until revoked.
This is presented below with the request that it be completed & emailed to me at peter.singh@live.com.
For those uncertain of their tax status, the criterion is that you need to be paying some U.K. tax whether through earnings, self-employment, interest on savings in a building society/bank accounts, dividends, pensions, rental income, or capital gains tax.
Higher rate tax payers may claim an additional relief.
Company donations should be paid gross (in the above example £125) & claimed as a deductible expense.
Other taxes such as VAT and Council tax do not qualify, nor does any non-UK tax.
For those resident in other Countries interested in the possibility of setting up something similar, I will be pleased to assist.
The intention of your Trustees is transparency coupled with minimal administration.
To this end we envisage the setting up of a Direct Debit Form which will be posted on the Site soon.
This will facilitate the collection of donations further enabling the provision of maximum assistance.
Naturally, this remains a request & for those more comfortable with the traditional direct verbal approach, this will also be respected & is accepted.
Annual Accounts for the TTT are intended to be prepared & made available on the Web-site after the accounting date so that both donations received & the assistance given may be viewed.
With the ongoing support of the members, extended families & associates the common goal will become reality.
We continue to benefit from the direction provided by our forebears, let us continue their work.
Thank you
PM Singh