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Small charitable donations given Gift Aid style top-up
22 Jun 12
Charities and sports clubs will be able to claim top-up payments - similar to Gift Aid payments - on small donations, following changes in a Bill currently going through Parliament.
The new Gift Aid Small Donations Scheme (GASDS) will allow charities and community amateur sports clubs (CASCs) to claim a Gift Aid style top-up payment on small individual donations up to £20. Top-ups will be available on a maximum of £5,000 worth of donations during a tax year.
Qualifying charities and CASCs could claim up to £1,250 in repayment from HMRC.
It is estimated the GASDS will boost the income of charities by up to £100m in funding a year by 2015-16.
Chloe Smith, Economic Secretary to the Treasury, said: "The Government is committed to encouraging charitable giving and building a more socially conscious society. Key to this is building a stronger culture of giving. The proposals in this Bill are part of that drive.
"The scheme will particularly help small charities that rely on bucket collections, where it is impractical to get the paperwork required under Gift Aid. They will now be able to claim a Gift Aid-style payment on small donations without the need to collect donors' details.
Charities will be able to claim GASDS from HM Revenue and Customs (HMRC) from April 2013.
- Home
- About us
- Contact us
- Site map
- Search
- News
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- International services
- Business
- Starting a business
- Employed or self employed?
- Buying a business
- Initial costs of starting in business
- Proving your credentials to investors
- The tax system for the self employed
- Business deductions
- Claiming expenses
- Choosing your accounting date
- Buying a franchise
- The construction industry
- Preparing your business plan
- Essential record keeping
- The national minimum wage and the national living wage
- Working from home
- Insuring your business
- Tax planning for businesses
- Limited companies
- The tax system for companies
- Forming a limited company
- Pros and cons of limited companies
- Buying a company 'off the shelf'
- Tax and the company car
- Company bonus or dividend?
- Tax saving strategies
- Interest and tax payments
- Companies Act 2006
- Companies House - forms you need to know about
- The law and directors' responsibilities
- Statutory records
- The company secretary
- Getting the company struck off
- Running your business
- Partnerships
- Your employees
- Selling your business
- Starting a business
- Personal
- Tax
- Spring Budget 2020
- Tax rates and allowances
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- National insurance contributions
- Residential property letting
- Main capital allowances
- Patent box
- Business deductions
- Penalties for late returns
- Trusts and settlements
- Non domiciled individuals
- Green travel allowances
- Mileage allowances
- Vehicle benefits
- Vehicle duties
- Pension premiums
- EIS SEIS and VCT
- ISAs
- Stamp and property taxes
- Air passenger duty rates
- Landfill tax
- Charitable giving
- Annual tax on enveloped dwellings
- Diverted profits tax
- Tax credits
- State pension
- VAT
- An introduction to VAT
- Value added tax
- Bad debt relief
- Issuing VAT invoices
- Recovering VAT on staff expenses
- Fuel scale charges
- When to add VAT
- Deregistering from VAT
- Cash accounting scheme
- Flat rate scheme
- Annual accounting scheme
- VAT dos and don’ts
- VAT inspections
- How to survive the enforcement powers
- Group VAT registration
- VAT Mini One Stop Shop (MOSS)
- Reverse charge VAT for construction services
- PAYE and NI
- IR35
- Tax and business calendar
- Budgets and Statements archive
- Calculators
- Career opportunities
- Our clients