A NUMBER of tax changes have taken place with regards to Gift Aid from 6 April 2019.

The following changes have been applied:

Gift Aid Small Donation Scheme (GASDS) applies to small charitable donations where it is impractical to obtain a Gift Aid declaration.

The GASDS limit is raised from £20 to £30.

You may also now be able to claim Gift Aid on contactless card donations of £30 or less under GASDS. All cash donations claimed under GASDS must be banked.

Gift Aid Retail Scheme rules allowing charity shops using the scheme to send letters to donors every three years (rather than every tax year) when their goods raise less than £20 a year.

Small trading exemption limits have increased for charities from £5,000 per annum to £8,000.

Where the turnover is greater than £5,000 (rising to £8,000), the limit is increased to 25% of the charity’s total income, subject to an overall upper limit of £50,000 (rising to £80,000).

It is important that your charity keeps the correct records in relation to any Gift Aid donations.

The government states that all charities must record the total cash donations collected, the date of the collection and the date it was paid in to a bank account.

All records of donations must then be kept for a further two years.

Contact JWP Creers to discuss your charity.

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