GIFT AID
Registering for Gift Aid allows The Holiday Project to boost the value of every eligibledonation by 25% at no extra cost to the donor. Effectively, for every £1 donated, thegovernment provides and additional 25p in tax relief
Key Requirements for Donors
The donor must be a UK taxpayer to qualify. Specifically, they must:
Pay Sufficient Tax: Donors must have paid enough Income Tax or Capital Gains Tax in the UK during the tax year the donation was made to cover the amount all charities will reclaim on their gifts.
- Provide a Declaration: We must hold a valid Gift Aid Declaration from the donor. This can be a one - off or an "enduring" declaration that covers past, present and future donations.
- Use Personal Funds: Gift Aid only applies to personal donations from the donor's own money; it cannot be used for collections from others or company donations.
Required Declaration Details
To ensure our claims are compliant with HMRC, every Gift Aid declaration must include:
- The donor’s full name and full home address (at least the house number/name and postcode).
- The name of the Charity (The Holiday Project).
- A decription of the gifts (e.g. " all donations I have made for the 4 years prior to this tax year")
- Confirmation that the donor wants the gifts to be treated as Gift Aid donations.
Important Notes
- GASDS: For small cash or contactless donations of £30 or less where declarations aren't practical, you may be able to use the Gift Aid Small Donations Scheme (GASDS), which allows a top-up without individual declarations, capped at £8,000 per year.
- Higher Rate Taxpayers: Donors who pay tax at the 40% or 45% rate can personally claim back the difference between their higher rate and the basic 20% rate through their Self Assessment tax return.
