Our Co-Mission vision is to assist in evangelising London by planting and establishing 360 diverse reformed evangelical churches for the salvation of many and the glory of God.
FREQUENTLY ASKED QUESTIONS
Gift Aid is a special tax relief which benefits UK charities and can provide Co-Mission with vital additional income. If you are a UK tax-payer, Gift Aid increases the value of Co-Mission giving by 25% because The Co-Mission Initiative Trust can reclaim the basic rate of tax on your gifts at no extra cost to you – but you must opt-in!
Gift Aid boosts Co-Mission’s income by adding an extra 25p for every £1 you donate. Therefore, if you give £100 each month to Co-Mission and complete a Gift Aid declaration, your giving is boosted by HMRC so that it becomes £125 each month or £1,500 each year! Imagine what a difference that could make to Co-Mission and to the gospel work we are doing!
If you are a UK tax-payer, you will be able Gift Aid your donations as long as you pay a sufficient amount of Income Tax or Capital Gains Tax in that financial year. The tax you pay must be equivalent (or more) to the amount of Gift Aid that all the charities you support will reclaim on your donations in that tax year. From April 2019, the Income Tax Personal Allowance has increased to £12,500 for most individuals and therefore if your income is below £12,500, you will no longer be able to Gift Aid your charitable giving. If you make a Gift Aid declaration and do not pay sufficient tax, then it will be your responsibility to pay the difference to HMRC.
The scheme has additional benefits for higher rate tax payers too. If you pay a higher rate of tax, you may be able to ask HMRC to adjust your tax code (so that you pay less tax) or use your self-assessment tax return to claim back the difference between the basic rate of tax reclaimed by the charity and your highest rate.