Gift Aid Awareness Day is on 6th October 2022 and will be using the #TickTheBox tag. By raising awareness for charities to promote Gift Aid, it is hoped that more taxpayers will tick the box when making charitable donations, and, as all charities should know, that will increase the total value of their donations.
How does Gift Aid work?
Gift Aid is a tax relief for UK charities whereby the charity can claim an additional 25% of the value of a taxpayer’s donation. So for every £1 donation made to the charity, it receives £1.25. The taxpayer pays no extra, and in fact, higher rate taxpayers may even receive a refund at the end of the tax year.
As an accountant who specialises in charities and not -for-profit organisations, we are well placed to help you with audits, advice and day-to-day accountancy needs. Do get in touch if you’re looking for help.