Why is Gift Aid important to charities?
26th October 2023
The #TickTheBox campaign raises awareness about what Gift Aid is and how vital it is to charities.
Since 2018, for one day every October, charities across the UK take to social media to share the #TickTheBox message with donors, supporters, volunteers and others.
In 2022, The Charity Finance Group estimated that Gift Aid is worth around £1.3bn to the UK charity sector each year yet at the same time over £500m goes unclaimed. Gift Aid Awareness Day is organised by Charity Finance Group and charities are encouraged to spread the word about the difference this tax relief makes and ask eligible donors to #TickTheBox.
What is Gift Aid? Why is it important?
Gift Aid is a tax relief for charities in the UK to increase donations – at no extra cost to the person making the donation.
When a charity receives a donation from a UK taxpayer, the charity is entitled to claim an extra 25% paid on that donation.
A £10 donation processed with Gift Aid becomes a £12.50 donation!
What are the rules for Gift Aid
To use Gift Aid, you must have paid enough income tax or capital gains tax to HMRC in the tax year in which you make your donation – at least equal to the amount that the charity will reclaim. The charity will ask you to sign a Gift Aid declaration confirming that you pay enough tax.
When you #TickTheBox, we can do so much more… and If you #TickTheBox – thank you!