Tag: Gift Aid

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Do Company donations qualify for Gift Aid ?

Companies can make charitable donations under Gift Aid, but those gifts are made without deduction of tax, so the charity does not reclaim tax on the gift. The company’s gift is treated as an expense and deductible from its profits as long as the company has profits for the accounting year in which the gift […]

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Autumn statement & charities/churches

Today, 5th December 2013, the Chancellor made his “Autumn statement”. Here are the Charity/Church relevant details in summary; – Set up a new working group to revise the model gift aid declaration – Develop new “marketing collateral” to try to increase take-up of the tax relief by donors. The Government said it wanted as many […]

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Gift Aid recommended wording

A common question I get is “what is the correct wording for Gift Aid envelopes”. Well here it is (for past and future gifts; not for one-off gifts)… “I confirm I have paid or will pay an amount of Income Tax and/or Capital Gains Tax for the current tax year (6 April to 5 April) […]

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“Charities online” – the new Gift Aid claiming system

HMRC is commencing a new service, “Charities Online“. It will make repayment claims faster and easier by filing online. The current R68(i) print and post repayment form will be replaced. From 22 April 2013, churches/charities can sign up to make repayment claims electronically using “Charities Online”. When you submit a claim using “Charities Online”, you […]

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Gift Aid small donation scheme

Starting April 2013, HMRC will introduce “GASDS” (gift aid small donation scheme). This is a new scheme to enable Gift Aid style payments on CASH DONATIONS where it is difficult to get a gift aid declaration (such as bucket donations or church “plate” donations.) Charities and amateur sports clubs (CASC’s), will be able to claim […]

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Gift aid donation – have you paid enough tax ?

To work out if you’ve paid enough tax to cover your donations, divide the donation value by four. For example, if you give £100 in a particular tax year you will need to have paid £25 tax over that period. (£100/4 = £25). This calculation is based on the basic rate tax of 20 per […]

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Streamlined Gift Aid for charity shops

http://www.mynewsdesk.com/uk/pressroom/hm-revenue-customs-hmrc/pressrelease/view/streamlined-gift-aid-for-charity-shops-823975 Here is the article in full which describes well a great benefit for churches with charity shops… New rules that will lift the administration burden for charities claiming Gift Aid on the proceeds of donors’ goods sold by charity shops have been announced by HM Revenue and Customs (HMRC). The new rules allow donors […]

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How Gift Aid works.

There has been a lot of coverage in the press recently about tax relief for charitable donations. When you make a donation to your church, or charity or to a community amateur sports club you can make a declaration that your donation is made under Gift Aid. This declaration can be made in writing, online or over […]

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