Gift Aid Changes Help Charities Reduce Tax Bill
09 January 2013
HMRC has issued new rules on claiming Gift Aid on the proceeds of donors’ goods sold by charity shops to reduce the administration burden for charities.The rules allow donors to make a one-off Gift Aid declaration that covers donations of up to £100, or £1,000 of future sale proceeds, in a tax year. The charity will need to write to the donor only when sale proceeds exceed the amount.
Current rules require a charity to write to a donor before the charity can claim Gift Aid on the proceeds from each sale, so that the donor can confirm that they areUKtaxpayers.
The changes will apply from April 2013.