Posts Tagged ‘Gift Aid’

Changes to Gift Aid – online filing

Posted on: February 15th, 2013 by Sarah Case No Comments
Sarah Case, Director, MHA Broomfield Alexander

Sarah Case, Director, MHA Broomfield Alexander

The new online Gift Aid filing system will be introduced on 22 April, HMRC has announced.

The new system, called Charities Online, will enable charities make repayment claims electronically.

New HMRC guidance, includes details of the transitional arrangements, which say that HMRC will continue to accept the current paper forms until 30 September.

HMRC said the guidance would explain what Charities Online means for charities and how they can prepare for it.

The new system will require some changes to the information that must be submitted to HMRC. Charities will need to provide each donor’s address, in addition to their name, date of donation and the amount given.

For advice or information on the changes to Gift Aid and what this will mean for your organisation, please contact Sarah Case.

Rule changes on Gift Aid donations to charity shops

Posted on: January 10th, 2013 by Sarah Case No Comments
Sarah Case, Director, MHA Broomfield Alexander

Sarah Case, Director, MHA Broomfield Alexander

HM Revenue & Customs has announced new rules that will allow people donating goods to charity shops to make a one-off Gift Aid declaration covering sales of items worth up to £1,000 a year.

Under the current system, charities have to speak to or write to the person who donated an item after it is sold so the donor can confirm they are a UK taxpayer before Gift Aid can be claimed. They must offer the donor the choice of taking the money, minus a sales commission, or giving the money to the charity under Gift Aid.

HMRC announced today that, from April 2013, donors will be able to sign a one-off Gift Aid declaration that covers donations for the relevant tax year up to a fixed level of sale proceeds. The amount is £1,000 for charities that run their shops as trading subsidiaries – the majority of charities that run shops – and £100 for charities that operate their shops directly.

This new process will significantly reduce administration and unnecessary correspondence, reducing cost and cutting red tape for UK charities.

Why not follow @BroomfieldWales on Twitter to keep up with the latest information on finance in the charity and the third sector and other business and financial topics, or by simply registering for our monthly newsletter

 

Changes to Gift Aid Declarations

Posted on: March 15th, 2012 by SarahCase No Comments
Sarah Case, Director, MHA Broomfield Alexander

Sarah Case, Director, MHA Broomfield Alexander

Charities have until 31 December to comply with guidance issued this month by HM Revenue & Customs

Charities will have until the end of the year to make changes to Gift Aid declarations to comply with guidance published earlier this month, according to HM Revenue & Customs.

A recent HMRC statement accompanying the new guidance did not make it clear whether charities would have to make those changes immediately, or whether they would have to seek retrospective changes to previous declarations.

HMRC has confirmed that it will continue to accept Gift Aid claims on donations made using forms based on the wording in the old HMRC model declaration until 31 December 2012

Where a charity has already received a Gift Aid declaration based on the old wording in the guidance they do not need to get the donor to supply a new declaration with the new wording.

(more…)

Institute of Fundraising plans free tax calculator iphone app

Posted on: October 8th, 2010 by SarahCase
Sarah Case, Director, MHA Broomfield Alexander

Sarah Case, Director, MHA Broomfield Alexander

This move will make virtual Gift Aid, payroll giving, share and legacy calculators available for free to iPhone users in the hope that it will help a new generation work out which method of giving is best for them.

The Institute of Fundraising is planning to launch an iPhone app which will bring all 4 calculators together, by the end of the year, that will help people give in a more tax-efficient manner.

The institute has four virtual calculators on its website, which can be used to make tax calculations on Gift Aid, payroll giving, shares and legacy wealth.

The calculators allow people to enter a donation amount – or for the legacy calculator enter detailed information on their assets and liabilities – and then work out the cost to the donor after the available tax relief is taken off.