Gift aid reform announced in the Queen’s speech will make the system “fit for the 21st century”, according to the Charities Aid Foundation.
The government announced through the Queen’s speech a Small Charitable Donations Bill, which intends to simplify the system and open it up for the smaller charities at which Gift Aid is aimed.
The current system enables charities that collect small cash donations to claim £1,250 in ‘reclaimed’ tax (which has increased to £2,000 from April).
The new regime will clarify the current rules, simplify eligibility conditions and criteria for newer and smaller charities to benefit, and in turn reduce the admin burden.
“The inclusion of a Small Charitable Donations Bill could be good news for charities, particularly for smaller organisations which have often struggled to unlock the benefits of Gift Aid. This provides a real opportunity to simplify the scheme and make it fit for the 21st century,” said John Low, chief executive of the Charities Aid Foundation.
A recent survey of smaller charities found a lack of knowledge of new regulation coming into force following a review that took place last summer, which included a recommendation to create a new regulator.
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