An Exposé on Gift Aid

 

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An Exposé on Gift Aid

22 May 2014 Posted by Rowcroft Hospice

Gift_Aid_100mm_blackAccording to The Institute of Fundraising £600 million goes unclaimed in Gift Aid each year - an amount that could make a massive difference to local and national charities, many of whom rely solely on voluntary donations to keep their services going.


 

So what is Gift Aid?

HM Revenue & Customs defines it as tax that can be claimed back on a voluntary gift of money. In other words, the charity you're donating to will be able to claim back the tax that is automatically paid to HM Revenue & Customs on your donation. Doing so means a £10 donation becomes £12.50, £100 becomes £125 and so on and so forth.

How to become a Gift Aider

With monetary donations a Gift Aid declaration can be made simply by completing a form provided by your chosen charity. The downside is you have to do this for every charity you wish to donate money to.
Once done, charities can claim back Gift Aid from donations made up to six years prior to receiving your form. This could potentially be a large amount depending on how much you have donated.

Retail Gift Aid

Did you know that charities can also claim Gift Aid on the donation of items to charity shops? This is known as 'Retail Gift Aid' and in these cases whatever your items sell for in our shops is effectively your monetary donation to us.
The charity can claim Gift Aid of 25% on the items they sell, providing you have given the shop your Gift Aid number when dropping off donations.
When you sign up to be a Retail Gift Aider the charity in question is obliged to write to you regularly to let you know how much Gift Aid has been claimed on your behalf. The downfall is that they can only do this after items have sold and this may take months after your initial donation, due to varying times between stock turnover in charity shops.

How to become a Retail Gift Aider

Gift Aid declarations completed for monetary donations do not enable a charity to claim on goods you donate to our shops. However, signing up to a Retail Gift Aid scheme is easy and will enable Rowcroft to claim Gift Aid on any monetary donations you also make to us.
All you have to do is make a Retail Gift Aid declaration. So the next time you visit any of our shops with donations, please ask to sign up. The only information we will ask for is your full name, home address, email and a signature.
It's also worth noting that for those who may be fortunate to earn enough that they fall within a higher rate of tax, you're eligible for a lower rate of tax on the amount you have donated - as long as you Gift Aid it!

Gift Aid and Rowcroft Hospice

Whilst a few large donations make up a significant portion of our funding, so too do many smaller donations, which combined could add up to a large amount of unclaimed Gift Aid.
What Gift Aid income means to Rowcroft is a more secure funding source on which we can build new services as required by the local community. Gift Aid is claimed at no cost to you. Clear and simple; so what are you waiting for?
One final thing - if for some reason you are reading this blog and are not eligible to complete a Gift Aid

Rowcroft's Gift Aid Week will be coming your way from Monday 27 October to Sunday 2 November, keep an eye out for up to date facts or pop in to one of our shops and sign up to become a Gift Aider!

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Last updated by on 08.09.2015 at 14:40:35 from 81.148.136.82 

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