Charities miss out on cash
Charities are missing out by not claiming extra tax relief through Gift Aid on cash donations, according to the Charity Commission.
It says that each £10 could attract an extra £2.50 through Gift Aid — with an additional 30p that can be reclaimed from the Inland Revenue until April 2011.
“While some religious charities are very effective in maximising their Gift Aid tax refunds, others miss the opportunity to encourage wider take-up of the scheme amongst their donors which would enable them to get the most from each donation,” it states in a new publication, Faith in Good Governance, intended to help religious organisations.
It adds that the “key requirement” is to have a Gift Aid declaration from each individual donor.