Are you making the most of Gift Aid?
Date: 26th August, 2010 | Author: Wendy Bambrick | Comments: 0
A recent survey suggests that 4 in 10 charities do not maximise their gift aid claims due to administration and complexity of the rules involved.
A survey of 896 charities carried out by a group including the Charity Finance Directors Group (http://www.cfdg.org.uk), the Charity Tax Group (http://www.ctrg.org.uk) and the Institute of Fundraising (http://www.institute-of-fundraising.org.uk) found that 81% of respondents would like to simplify the system by moving to an electronic database for storing Gift Aid declarations instead of the current paper based system and 93% of organisations would like to be able to file claims online.
Other ideas for simplification included changes to the current rules on auctions, sponsored events and donations through self-assessment tax returns.
If you need advice or guidance on the Gift Aid scheme, please contact us and arrange to speak to one of our charity tax specialists.