7 Gift Aid and Payroll Giving

UPDATE DECEMBER 2012
Important Notice regarding wording of Gift Aid declarations
There has been an important change to the wording of GiftAid declarations. HMRC have introduced revised wording to the ‘GiftAid declaration’ which allows UK charities to reclaim tax on donations.

AFTER 31/12/2012 ANY NEW DONORS WILL NEED TO SIGN A DECLARATION WITH THE NEW WORDING OTHERWISE THEIR DONATION WILL NOT BE ELIGIBLE FOR GIFTAID. PLEASE ENSURE YOUR GiftAid DECLARATIONS CONTAIN THE NEW REVISED WORDING!

You’ll find a suggested form of words in the Gift Aid Model Declaration revised wording. Happily you can continue to collect GiftAid from existing regular donors on standing orders using their existing declarations – it is only new donors who have to sign the new declaration.

Another change requires all charities to retain records of previous GiftAid claims for 6 years rather than 4 – and to retain them indefinitely if their donations are ongoing.

Please read on for Vajragupta’s original notes on GiftAid…
Thanks, Lokabandhu, December 2012
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One of the advantages of charitable status in the UK is that you can reclaim the income tax on donations made to your charity. If you take the time to set-up an efficient system for collecting donations, keeping records, and claiming back the tax, it can be worth a lot of money to your charity for years to come. It is well worth investing the effort now to reap the fullest rewards, and to make sure you are running your tax-claim system and effectively as you can.

If you click here you can download a guide to gift aid and payroll giving in pdf format:gift-aid-and-payroll-giving.pdf

The chart below shows you the content of the guide. Most Triratna Centres will already have a gift aid scheme and so much of what is in the guide may already be familiar to you. However, there may be some information, especially in sections 5 to 8, which is new.

Vajragupta, July 07


Further help is available at an online gift aid forum www.giftaidhelp.org . This is an online gift aid forum with a dedicated panel of experts, launched at the end of October 2008 by the UK Institute of Fundraising.

CONTENTS TO THE GUIDE:
Introduction
PAYROLL GIVING
GIFT AID
1) Setting up a Gift Aid scheme
2) The Gift Aid Declaration
3) Keeping records of Gift Aid donations
4) What donations can be included in the scheme?
5) Standing Orders or Direct Debits?
6) Cash donations and using envelopes
7) Donations to FWBO’s beyond the UK
8) Backdating Gift Aid claims
9) Reclaiming the tax from HM Revenue and Customs
10) Further guidance
11) Model Gift Aid Declaration Form [note: this is now out-of-date]

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