What if I pay tax at the higher rate?

Charities can only claim back tax at the basic rate, but that is still worth 25% to us, so please complete and return the declaration anyway.

As a higher-rate taxpayer you have the right to reclaim tax on your charitable donations. All you have to do is remember to include details of your charitable gifts on your self-assessment tax form to claim your additional personal tax relief (this being the difference between the basic rate of 20% and your higher rate).

Related FAQs

This is because the basic rate of tax is calculated on the gross amount of the donation. This means we can reclaim 20% of the amount you earned before tax was deducted, which works out to be 25% of the amount that we receive. To find out the exact amount of tax that Silverstone Heritage can reclaim, multiply the amount of your donation by 20 and then divide it by 80.

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You can support as many UK charities as you like through Gift Aid. All you need to do is return a declaration to each charity that you support and ensure that you are paying enough tax during the year to cover your total annual donations.

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When you provide a Gift Aid declaration it will cover all of the eligible donations you have given up until 4 years previous (in tax years, 6 April – 5 April) and on any donation you may make in the future, so only one declaration is required.

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You may still be paying tax on a private pension plan or a savings account, or pay capital gains tax if you sell either a property or shares. You are still eligible if you have paid enough tax during the year to cover your donations (i.e. 25% of the value of your gifts).

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Please call our team who will be able to record details of this change.

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Completing a Gift Aid declaration does not put you under any obligation to give again – it merely ensures that we can reclaim tax on the donations that you have already made and any you may make in the future, so that your gifts go further at no extra cost to you.

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Gift Aid TERMS & CONDITIONS

I am a UK taxpayer and understand that if I pay less Income Tax and/or Capital Gains Tax than the amount of Gift Aid claimed on all my donations in that tax year, it is my responsibility to pay any difference.
I understand that other taxes such as VAT and Council Tax do not qualify.
I understand the charity will reclaim 25p of tax on every £1 that I give.

Change of details

Please contact us if you wish to:

Cancel this declaration.
Change your name or home address.
No longer pay sufficient tax on your income and/or capital gains.

If you pay Income Tax at the higher or additional rate and want to receive the additional tax relief due to you, you must include all your Gift Aid donations on your Self Assessment tax return or ask HM Revenue and Customs to adjust your tax code.

Further information

If you are unsure whether your donations qualify for Gift Aid tax relief please refer to the HM Revenue & Customs website here
Please be aware that Gift Aid only covers your entry ticket upgrade to free visits for 12 months. Tickets for the Simulator Experience and Guidebooks are NOT covered by Gift Aid, and therefore not part of the 'free for 12 months' offer. These however can be booked as an add on to your visit at the online price.
Upon booking your revisits you can only book one entry per annual pass held and will be asked to provide ID and your annual pass confirmation upon entry.

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Gift Aid is a government scheme that allows Silverstone Heritage Ltd (registered trading name of Silverstone Museum) to reclaim 25% of your donation back at no extra cost to you. If you pay tax in the UK, Silverstone Heritage Ltd can reclaim the basic rate tax (25%) on your donation.

If you purchase an Adult Annual Pass at £25, and gift aid this, we can reclaim £6.25 so it is actually worth £31.25 to us whilst you still only pay £25.

As a charity, we will use the money you donate in Gift Aid to help us achieve our charitable aims of preserving and celebrating British motor sport heritage, and inspiring the next generation of engineers.

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The declaration gives Silverstone Heritage Ltd (registered trading name of Silverstone Museum) authority to reclaim tax from HM Revenue & Customs on your gift. By making the declaration, you are confirming that you understand this.

How do I know if I am a UK taxpayer?

You ARE a UK income tax payer if:

Tax is taken from your wages or pension before you receive them
You have to fill in a self-assessment form
You have any taxable savings (in a building society, for instance), or a pension plan, or investment income
You have recently paid any capital gains tax, or expect to pay it in the near future. This could be on the sale of a property or some shares, for example

If any of these apply to you, please complete and submit your declaration today.

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If, for any reason, you decide that your gift should not be included in Gift Aid – for example, if you think that you will not pay enough tax to cover the tax reclaimed by us – then simply call our team and ask for the declaration to be withdrawn or for a particular gift to be excluded from the scheme.

However, please note that it is your responsibility to notify us of any withdrawal from the Gift Aid scheme as soon as possible – for example, if you stop paying tax or you think that a donation you are making would not be eligible for the scheme.

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