FINANCE

A MESSAGE FROM THE PARISH

Both St Mary Magdalen's and St Teresa's benefit from the Gift Aid Scheme.

Parishioners who pay tax on their income, both PAYE or investments, are invited to join the scheme.

The Tax refunds boost the parish income at no extra cost to the donor.

In the financial year ending April 2006, St Teresa's received over £6,600 and St Mary Magdalen's received over £3,700.

Unlike the Covenant Scheme, which preceded the Gift Aid Scheme, one does not have to make a commitment of a fixed sum of money - weekly, monthly or annually.

You can make contributions by :

• Cash or cheque in a numbered envelope placed in the Offertory collection

• By Bankers Order

• A single 'one-off' donation - this needs you to complete a Special Gift Card and is NOT dependant on being a regular member of the Scheme.

The Inland Revenue assumes that your donations have been taxed at the Standard Rate, ie 22%, and refunds the Charity at the rate of 28p in the £.

You may not be paying at the Standard Rate so you need to be sure that your tax for the year covers the refund that your Gift Aided donations will create.

WHAT DO YOU NEED TO DO
TO JOIN THE SCHEME ?

Simply sign a Gift Aid Declaration Form and this will remain current until you inform the Parish Gift Aid Organiser that you are no longer paying tax or that you are leaving the Parish.

WHO TO CONTACT

For parishioners of both St Teresa's and St Mary Magdalen's :

Bill Dobson whose telephone number is 01772 337666

GIFT AIDED DONATIONS FOR
SPECIAL COLLECTIONS

Throughout the year, special collections are taken for CAFOD Family Fast, Priests' Training Fund, Priests' Retirement Fund and LAMP.

For these charities to gain tax refunds, special envelopes must be used; these will be made available at appropriate times.

IF YOU PAY TAX .... THEN PLEASE JOIN THE NEW GIFT AID SCHEME.

If you have an income (wage, salary, pension or investment income) on which you pay UK Income Tax, you can boost the donations you are currently making to your Parish by 28% without giving anything extra.

It works like this.

For example, if you give £104 each year (£2 a week) to the Church, you would have paid income tax of £29.33 on that amount.

By completing a simple Gift Aid Declaration, you give the Church authority to reclaim this Tax from the Inland Revenue.

This is a bonus to the Parish of 28p for every £1 you donate.

Complete a Gift Aid Declaration and hand it to Fr Austin or Bill Dobson.

Make your contributions to the Church by Weekly Numbered Envelope, Standing Order or Cheque.

We'll do the rest.

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Some questions about Gift Aid

How much tax must I pay to be able to take part in Gift Aid ?

You can join the Gift Aid Scheme if you are a tax payer and pay tax at the basic or higher rate.

Lower rate tax payers (10%), including those paying tax on investment income, can also join providing they pay an amount of tax at least equal to the amount of any refund claimed by the Parish.

What if I have already signed a Covenant ?

Your existing Covenant will continue to be valid for the covenanted amount.

However, if you increase the amount of your giving and wish the Parish to benefit, you will need to complete a Gift Aid Declaration.

Do I have to make known my earnings ?

No.

What if I stop paying income tax ?

Let us know and we will cancel your Declaration.

Who, in the Church, receives the tax refund ?

Your own Parish, unless you ask for it to go elsewhere.

Can I change the amount I give ?

Yes. You can increase or decrease the amount you give at any time without having to complete a Declaration.

Is Gift Aid confidential ?

Yes. Remember that the amount you give to the Church is confidential.

How much of what I give to the Church can be included in my Gift Aid Declaration ?

You can include everything you give in the Offertory Collection provided it is given in a numbered weekly envelope or by cheque or standing order.

Additional donations can also be included.

The Parish that receives your Gift Aid donations has to keep accurate records of receipt and the Parish Priest has to certify the amount you have given in the tax year before the Parish can reclaim the tax.

If both spouses pay tax, they should make separate Declarations for the amounts they give and they must use their own numbered envelopes. This enables accurate records to be kept.

What about Higher Rate Tax Payers ?

Higher rate tax payers will benefit through additional tax relief if they declare their Gift Aid Declarations on their tax return.

I am already giving to my Parish in the Offertory Collection. Will it cost me more to join the Gift Aid Scheme ?

No. You are not being asked to give more money or pay additional income tax. You are simply being asked to complete a Gift Aid Declaration so that your Parish can reclaim from the Inland Revenue the tax that you have already paid on your donations.

Where can I get further information ?

If you require further information about the new Gift Aid Scheme, please contact :

Fr Austin on 01772 743337 or

Bill Dobson on 01772 337666.

You can also contact the Diocesan Office :

Archdiocese of Liverpool

Department for Finance and Development

152 Brownlow Hill

LIVERPOOL

L3 5RQ

Telephone : 0151 709 3666

Fr Austin writes :

Tony Holohan, our Parish Finance Secretary, died last week. Tony was a wonderful servant of the Lord and the Church.   He gave generously of his time both here and at his parish of St Oswald's, Longton.  He was a school Governor at All Hallows for some years

But I owe him an immense debt of gratitude for the work he did with parish finance and the Gift Aid scheme since I came here 11 years ago.   He always had the good of the Church at heart and wanted nothing in return for his labours.   May God grant him eternal joy.

His requiem will be celebrated at St Oswald's on Monday 15 October 2007 at 11.00am.