Gift Aid Awareness

Gift Aid Awareness

Gift Aid Awareness

#ABS_Accountancy is proud to support Gift Aid Awareness Day which aims to assist charities to encourage their donors to #tickthebox and Gift Aid their eligible donations. The aim behind Gift Aid Awareness day is designed to target the estimated £560m of Gift Aid which goes unclaimed each year.

Last year The Charity Finance Group launched the first Gift Aid Awareness Day aimed to assist charities to encourage their donors to #tickthebox and Gift Aid their eligible donations.

In a recent HMRC commissioned research found that a lack of understanding of Gift Aid deterred eligible donors with 30% having a “fairly poor” understanding of Gift Aid and 11% having a “poor” understanding. Which led to confusion amongst ineligible donors leading to erroneous claims. It also found that volunteers, particularly those in charity shops, were well placed to explain the scheme. ABS Accountancy we want to change that perception so, We have also put together an exciting guide to Gift Aid, in this guide we explain what Gift Aid is and how it can be used as well as the rules. You can download your copy here.You can download your copy here.

Building awareness to Gift Aid awareness is an important moment in which we encourage more charities to make full use of it, and that every charity to spend time with staff and volunteers to educate them on Gift Aid and answer their questions, so that they can educate family, friends and the general public, and more importantly, to get more donors to #tickthebox, and take full advantage of it and to ensure that for every one pound donated, and extra 25p from H.M. Treasury goes to those charities to support the good work these charities do.

There’s over 14m people who volunteer for charities every single month and over 850,000 people work in the charity sector. Building Gift Aid Awareness amongst volunteers and staff would be a tremendous boost to the public understanding of this £1.3bn tax relief. Gift Aid is vital to the charity sector and goes directly to support the tremendous work of tens of thousands of organisations. Without it, charities would reach fewer people and deliver less impact.

What is Gift Aid

Gift Aid is a scheme that allows charities to reclaim tax on a donation made by a UK taxpayer, which allows UK tax-paying donors to complete a simple declaration that they are a UK taxpayer. Meaning your donations will be worth 25% more to us at no extra cost to you. If you Gift Aid your donations we can claim back from the government 25p for every £1 you donate.

Gift Aid allows UK tax-paying donors to complete a simple declaration that they are a UK taxpayer. Once declared, the charity can then reclaim the basic rate of income tax paid on the gift, which would be approximately 25 per cent for basic-rate taxpayers, making a significant difference to the donation.

Did you know even unemployed donors can include Gift Aid? providing they are paying tax on a personal or occupational pension, stocks and shares, savings accounts, rental income or overseas or UK investment dividends.

This additional income really does make a big difference, so please don’t forget to Gift Aid donations if you are a UK tax payer.

Simply return this form along with your donation.
If you are a higher rate tax payer, you can also claim additional tax relief. For higher rate tax payers (paying tax at 40%) this works out as 25p for every £1 you donate and for the highest rate tax payers (paying tax at 45%) this works out as 31p for every £1 you donate.

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