Are you making the most of Gift Aid?
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.
Date: 26th August, 2010
Articles from this Author
24th July, 2018
Academies Accounts Direction 2017/2018 (AAD)
9th February, 2018
Guidance for charities regarding the changes to the automatic disqualification of trustees rules
30th November, 2017
Legislative changes affecting the Charitable Incorporated Organisation (CIO)
14th November, 2017
Updated guidance for independent examiners (CC32)
Business News from Mercer & Hole Accountants - Considering outsourcing your financial functions? Read on... mailchi.mp/stalbans-chamb…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole