New to Gift Aid?
HMRC has produced a free CD of guidance as a tool kit for charities running the Gift Aid scheme.
Charities and qualifying community amateur sports clubs (CASCs) are eligible to seek Gift Aid donations, on which they can reclaim basic rate tax. Thus, on a donation of £100, the charity can claim an extra £20 from the tax man at the current basic rate.
The tool kit CD will be especially useful for small charities and associations who are just starting out with the Gift Aid system. It covers the basic process from the initial application to HMRC to be registered for the scheme through what records to keep to how to make repayment claims. Free copies can be ordered on the HMRC Charities Helpline on 0845 302 0203.