It was a great relief to know the accumulated sum of £476 had safely reached St mary Axim, in Ghana. The money was greatly appreciated and a further sum of £102 from the retiring collection during September is awaiting dispatch. Forty-seven Christian Aid Harvest Gift envelopes have been returned so far containing £100.21 to add to the £23.50 tea money and bread auction funds.
The collection at the Battle of Britain Service raised £66.05 for general Church funds and the net profit from the shop for one week's trading raised a magnificent £1854 although items were still being sold as clearing up was taking place so the final figure is likely to be around £1900.
However the recent work in the churchyard cost £550 and the replacement of more loose coping stones a further £90. The Parochial Church Council has recently purchased a Phonographic Performance Ltd (PPL) licence at a cost to us as a charity of £44.13 to cover our own organisations using sound recordings in the church and hall. We already have the appropriate Performing Rights Society licence to cover the copyright owned by composers, authors and publishers of musical works whereas the PPL licence covers the copyright of the companies producing tapes, records and CDs.
I conclude this month by reproducing questions and answers about covenanting taken from a leaflet produced by the Parish Resources Adviser, Diocese of Portsmouth, based on an item written by Terry Ward in the Annual Report of St John, Newport, Isle of Wight.
I hope the above covers any queries you may have had, and if not, ask!
written by Linda Wainwright, Hon. Treasurer, P.C.C.
What is a covenant ?
It is a simple written promise made on a special form that will give the Church a stated sum of money from your taxable income every year for four years or more.
Who should covenant?
All Church members, and anyone else, who pay income tax and wish to give regularly to the Church.
How will the Church gain?
The state will refund to the Church the basic rate of tax which you have paid on the money you give.
How much is that?
Currently the state refunds 23p for every 77p that you give. (And if you pay tax at the higher rate it refunds the other l7p to you.)
Is covenanting honest?
Unequivocally yes. It is the government's wish to support charities including the church in this way.
Can a married woman covenant?
Yes, if she has taxed income of her own.
Surely there must be some snags?
Normally there are none at all. It costs you nothing extra if you pay tax at the basic rate. All you have to do is sign a Deed of Covenant, and sign to say you have paid tax on the sum given.
Can I give a Covenant if I only pay lower rate tax of 20p in £?
Definitely yes, but you may incur a very small additional tax liability as the Inland Revenue could claw back the difference between basic and lower rate tax.
Is a covenant extra giving?
No. The money you give now could be covenanted.
How do I pay?
In a way that the payment can be traced such as the envelope scheme or by bankers order.
Can I increase my covenanted giving?
Yes, at any time.
If I die will my family have to continue making payments?
No. A Deed of Covenant ceases on death.
Suppose my circumstances change?
A covenant is made in good faith, with the intention of making payments for the full term. However, the PCC can release you if you cannot continue for some reason. The covenant is with the Parish, not the Inland Revenue.
Suppose I move?
If this happens you can notify the PCC that the covenant will be lapsed, or request that it is transferred to your new parish.
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