9 August 2012
Press ReleasesThames Valley and South Coast accountants and business advisers James Cowper Kreston is reminding charities and Community Amateur Sports Clubs (CASCs) that HMRC has published a new model Gift Aid declaration with revised wording that needs to be adopted by the end of the year.
Ian Miles, Partner at James Cowper Kreston, said: “Charities do not need to get new declarations from existing donors and have until 31 December to adopt the new wording. However, early use of the revised wording for any new Gift Aid declarations is being encouraged by HMRC and we agree with that. We have supplied the new Gift Aid declaration to a number of clients and they seem to be using it fine.”
There is no set design for the form but any alternatives used by charities and CASCs must contain certain information which can be copied from the model form.
Ian explained: “The revised model wording makes it clear that the individual must have paid sufficient UK Income or Capital Gains Tax to cover all their Gift Aid donations in a tax year and also which taxes qualify – for example VAT and Council Tax do not.”
HM Revenue & Customs may ask to see the declarations so charities must keep records to support Gift Aid repayment claims.
Ian Miles, Partner, James Cowper Kreston LLP, Tel +44 (0)1941 848500 or email
