The finances of the St Margaret Lothbury parish
It costs about £220,000 a year to run our church. That is about £4,200 a week to ensure that the Clergy and church staff are paid, the building which is Grade 1 listed is properly maintained and heated, the parish affairs are efficiently run and our worship services continue to the highest standards.
Our church relies for its upkeep on the giving of the congregation in financial support. We do not receive any support from the State or the Church of England.
Regular committed giving allows us to plan ahead and our Treasurer will be pleased to give you more information on this. The most efficient way to give to the Church is by the Gift Aid scheme.
It is possible to give online through Just Giving below
Or if you’d prefer you can download and print a giving form.
For up to date information on our charitable status, financial affairs and trustees please visit the Charity Commission website.
St Margaret Lothbury Gift Aid scheme
What is Gift Aid?
A donation is worth more with Gift Aid. Gift Aid is a simple way for us to increase the value of gifts of money we receive from UK taxpayers.
How does Gift Aid work?
When a UK taxpayer gives a gift of money to the parish, tax has already been paid on that money. This money therefore qualifies for Gift Aid. Because we are exempt from tax, we can claim an amount equal to the tax paid by a donor on their donation as a repayment from HM Revenue & Customs (HMRC).
How much is Gift Aid worth?
Gift Aid allows us to reclaim tax at the basic rate of income tax. This means that currently we get back 25p for every £1 you give to us, boosting the value of your donation by a quarter. All we need from you is your permission to reclaim the tax you have paid to HMRC.
What do I need to do?
If you are a donor who has paid UK tax, please ask us for a Gift Aid declaration form. This will allow us to reclaim tax on past donations made up to 6 years previously, and all future donations.
What gifts are eligible?
The Scheme applies to donations of any amount [whether paid in cash or by other means] and to single payments as well as to periodic payments.
What happens if I am a higher rate taxpayer?
If you pay higher rate tax, you can claim the difference between the higher rate of tax and the basic rate of tax on your donations. You can make this claim on your Self-Assessment tax return if you complete one. If you don’t complete a return, your tax office will be able to advise on how to make this claim. If you do complete a Self-Assessment tax return, you can choose to have all or part of the repayment sent to a charity of your choice – this is called “Self-Assessment Giving”.
If you would like to know more about the Gift Aid scheme, please contact the Church office.