The FCT is really pleased to announce that our application for Charity Registration has been accepted. It was always planned for this to happen and the Objectives of the Trust, a not-for-profit company, were written with this in mind.
The principle benefit is that it opens up many more avenues for fund raising. It is also especially pleasing to have the Charity Commission classify the Trust as a Regeneration charity, in recognition of the work we are doing for the benefit of the Faversham community on the creek- particularly as Charity Registration is becoming harder to achieve.
A specific benefit is that the Trust will be able to reclaim tax paid by Members and Donors who pay UK tax, through the Gift Aid scheme. The Trust can take your subscriptions or donations, which is money you’ve already paid income tax on, and reclaim the tax that you paid on that amount, from HM Revenue & Customs (HMRC).
Basic rate tax is 20 per cent, so this means that if you give £10 using Gift Aid, it’s worth £12.50 to the charity, at no extra cost to you.
To do this, FCT will ask you to complete a simple Declaration form – one form can cover every gift made to FCT for whatever period you choose, and can cover subscriptions and donations you have already made and/or you may make in the future.