This month we bring you three key updates to Gift Aid, including an increase in the individual gift limit for the Gift Aid small donations scheme (GASDS), new HMRC preferences on names, and a reminder about church finances/taxes being a team sport.
In issue 29 of Share magazine, Kevin and Steve refered to several blog posts and briefing papers. You'll find full links to each of these below.
"From time to time, our church employees incur expenditure in the course of their duties. Do we really have to include this on the year end P11D?"
Smaller churches and, not infrequently, local charities ‘hop’ in and out of being an employer for PAYE purposes. The following warning concerning the submission of Real Time Information (RTI) to HMRC will be important, if churches and charities in this situation are to avoid incurring a penalty
Social Investment Tax Relief (SITR) is a new tax relief, available for investment into eligible social enterprises, from 6 April 2014. The investment, and the organisation receiving it, must meet eligibility criteria.
HMRC Charities has recently set up a new dedicated Outreach Team to offer help and support to charities to enable them to get things right first time.
Have you tried to submit an R68(i) Gift Aid form since 30 September 2013? Have you had your claim rejected? Are you wondering what to do next?
Readers of this blog will know that some, but not all, churches must register as a charity with the relevant charity regulator (the Charity Commission in England and Wales, the Office of the Scottish Charity Regulator in Scotland, and shortly, the Charity Commission for Northern Ireland).
In our last Legal Eagle e mail bulletin, we highlighted the need for churches and charities to use the most up to date Gift Aid claim form, the R68(i) in order to ensure that your Gift Aid claim is repaid as quickly as possible.
HMRC have today gone further by announcing that they will no longer accept the older forms that some charities are still using.
The Finance Act 2010 introduced a requirement that, to qualify as a charity for tax purposes, the charity must meet a ‘management condition’. This condition is satisfied if all of the charity’s ‘managers’ are ‘fit and proper persons’. If a charity fails this test then HMRC can refuse or cancel its ‘tax status’; meaning that it will no longer be eligible for charity tax benefits such as Gift Aid.
blogs by the Stewardship team and selected guest writers.
Stewardship is the operating name of Stewardship Services (UKET) Limited. Established in 1906.
Registered charity no. 234714, and a company limited by guarantee, registered in England no. 90305.
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