New Gift Aid resources now available online
Geraldine Kendall, 13.04.2011
Measures to simplify charitable donation system came into force on 6 April
The Department for Culture, Media and Sport (DCMS) has introduced new online resources incorporating the changes to the Gift Aid system brought about by last month’s budget.
As part of its drive to encourage philanthropy, the government announced plans to simplify the Gift Aid system and cut red tape for both charities and donors.
Eligible charities can register, change their details, fill in claim forms and obtain Gift Aid declarations from donors on the HM Revenue & Customs (HMRC) website following the publication of new “intelligent” forms.
The forms include automatic checks enabling charities to apply for and claim tax reliefs, as well as calculate how much Gift Aid they will receive.
The DCMS has also published new guidelines on donor benefits, which detail changes to the Gift Aid benefit limit and outline exactly what a benefit is. The benefit limit (the value of items or services a charity may give to a donor in return for a donation) was raised from £500 to £2,500 on 6 April.
Museums Association director Mark Taylor said: “It’s very welcome that the government seems to have listened to the charitable sector’s comments on simplifying the administration of Gift Aid and I hope in the implementation it proves as beneficial to museums as it looks on paper.”
Further changes to the tax system that may benefit museums are due to be introduced over the next two years.
From April 2012, the rate of inheritance tax will be reduced to 36% for those estates leaving 10% or more to charity, and in 2013 the government will introduce a scheme allowing charites to claim Gift Aid on up to £5,000 of small donations each year without the need for Gift Aid declarations.
However, the government’s changes to Gift Aid have not all been positive for museums. On 6 April, the HMRC cancelled the 3% supplement it has paid on Gift Aid claims since 2008, bringing the amount charities can now claim down to 25%.
To view the updated Gift Aid toolkit, click here
To read the new guidelines on donor benefits, click here
As part of its drive to encourage philanthropy, the government announced plans to simplify the Gift Aid system and cut red tape for both charities and donors.
Eligible charities can register, change their details, fill in claim forms and obtain Gift Aid declarations from donors on the HM Revenue & Customs (HMRC) website following the publication of new “intelligent” forms.
The forms include automatic checks enabling charities to apply for and claim tax reliefs, as well as calculate how much Gift Aid they will receive.
The DCMS has also published new guidelines on donor benefits, which detail changes to the Gift Aid benefit limit and outline exactly what a benefit is. The benefit limit (the value of items or services a charity may give to a donor in return for a donation) was raised from £500 to £2,500 on 6 April.
Museums Association director Mark Taylor said: “It’s very welcome that the government seems to have listened to the charitable sector’s comments on simplifying the administration of Gift Aid and I hope in the implementation it proves as beneficial to museums as it looks on paper.”
Further changes to the tax system that may benefit museums are due to be introduced over the next two years.
From April 2012, the rate of inheritance tax will be reduced to 36% for those estates leaving 10% or more to charity, and in 2013 the government will introduce a scheme allowing charites to claim Gift Aid on up to £5,000 of small donations each year without the need for Gift Aid declarations.
However, the government’s changes to Gift Aid have not all been positive for museums. On 6 April, the HMRC cancelled the 3% supplement it has paid on Gift Aid claims since 2008, bringing the amount charities can now claim down to 25%.
To view the updated Gift Aid toolkit, click here
To read the new guidelines on donor benefits, click here
Add your comment