Gift Aid in 2024

Charity Finance Group has big plans for Gift Aid in 2024. Dionne Sturdy-Clow, CFG’s Gift Aid Project Officer, sets out some of the work being done to help every charity understand and make the most of this valuable tax relief.

By the time this article reaches you, we will have had the government’s spring budget, setting out their tax and spending plans for the year ahead. Ahead of the budget, Charity Finance Group (CFG) led on a charitable sector submission to HM Treasury.

One of our asks of Government is for a transition mechanism in place for Gift Aid, to protect charities from losing out if there is any reduction in the basic rate of income tax. With the economy formally in recession, interest rates above 5% and inflation still double the government’s target of 2%, there’s very little space in the Budget for tax cuts, but it is a general election year . . .

This year, CFG is running a special project to increase the number of charities which are registered for Gift Aid, and to help those that have registered to claim all the tax relief to which they are entitled. Many thousands of charities miss out on Gift Aid that they could be claiming, and we want that to change. CFG is gearing up to bring you all the resources and information you’ll need to be a confident (and competent!) Gift Aid registered charity. The Gift Aid Awareness 2024 campaign is a collaborative project and we will be sharing ways for the sector to get involved in the creation of our Gift Aid Awareness Day resources.

Gift Aid means any registered charity, which includes loads of independent museums, can claim 25p from the government for every £1 they receive from supporters and donors who are UK taxpayers. It’s a great way to increase your income, and CFG is here to help.

Gift Aid is worth £1.3 billion each year to the charity sector. Research from 2016 estimated that more than £500 million goes unclaimed annually. That amount of money could make a huge difference to organisations right across the charity sector, and, more importantly, to the people and communities they work with.

During 2024 we’ll also be working with charities to learn more about the barriers that prevent them from claiming Gift Aid, and how we can dismantle those barriers.

A date for your calendar: Thursday 3 October 2024 is Gift Aid Awareness Day!

We’ll be sharing a full suite of resources to help you engage your donors and supporters, encouraging as many of them as possible to maximise the impact of their financial contribution to you. Look out for the Expression of Interest form on the CFG Gift Aid Awareness Day website page – tell us what Gift Aid means to your organisation.

Make sure you don’t miss out on all our Gift Aid news and resources by registering for our fortnightly newsletter. As members of AIM, you are entitled to FREE membership of Charity Finance Group, saving your organisation £££ and ensuring every member of your staff and all your trustees can access our resources, expert insight, information and updates on policy.

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