We fail to claim £600 million in HMRC Gift Aid for charities annually, it's effectively core funding and you can claim up to 4 years retrospectively. We need that money more than ever, but there are different rules and it can be confusing. This Chaity Excellence resource gives you everything you need to make sure you're maximising yours. I'm Scottish, but not an accountant, so I can see the opportunity, but this resource is not professional advice.
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Gift Aid, can be claimed by charities on donations from UK tax payers. HMRC adds an additional 25p for every £1 they donate.
And there's more.
Do you communicate this to your donors and ensure that all eligible ones are invited to sign a declaration form, so you can claim?
You don't have to be a registered charity to claim it. It can also be claimed by unregistered charities (unincorporated associations) and community amateur sports clubs (CASCs).
But, you have to be registered with HMRC. Not registered? Here's my guide on how to do so and you can make a claim up to 4 years retrospectively; of the end of the financial period you received it in.
The HMRC example declarations include in the statement that donations may be claimed up to 4 year's retrospectively.
If you think that sounds like a waste of time, I spoke to someone who carries out large scale Gift Aid audits. The largest amount he's found so far was £0.7m. That's not a typo and it's not the total donations that could be claimed for. It's the Gift Aid total.
For donations over £30, donors need to sign a Gift Aid declaration, which must be retained on file. But............
And, you can claim Gift Aid for a range of other less well known types of donations:
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I'm Scottish, so finding ways for you to claim money off the Government is something I'm enthusiastic about. However, I'm not an accountant, so not professionally competent to offer tax advice, besides which it depends on your circumstances. This guide will help you to identify opportunities you may have missed, but it's not professional advice.