SUBSCRIPTIONS UNDER COVENANT [To the Editor of THE SPECTATOR] SIR,—In
your. issue dated June znd you published a letter from Mr. L. H. Green on the subject of Subscriptions under Covenant. I doubt very much whether any reputable charity deliberately misleads its subscribers, since to do so is obviously inimical to its own interests. It may help Mr. Green and other readers if I make it dear that (a) If a subscriber does not pay income-tax at the full rate, a seven-year deed of covenant will in fact involve him in some extra cost.
(b) If a subscriber does pay income-tax at the full rsge, a seven-year covenant will normally benefit the receiving charity without additional cost to the subscriber.
(c) If the subscriber pays surtax he will, benefit as,, well as the charity, since he can deduct the gross amount of his gifts to charity from his assessment to surtax.
These facts are always explained to those who wish to make contributions to charities through this Council, and I believe are similarly explained by other organisations operating this scheme for their subscribers.—Yours truly,
L. SHOETEN SAM, Secretary.
The National Council of Social Service, 26 Bedford Square, London, W.C. .r.
Previous page
