Over the coming weeks we’ll be posting up a series of pertinent articles tackling some of the key issues currently affecting the Third Sector. To view our other articles simply click on whichever one appeals to you from the list on the right.
October 2009
Amid claims that HMRC has done little to publicise its planned cuts to the reclamation period, a recent article in Third Sector Daily quotes Eric Grounds, director of fundraising at Sue Ryder Care, as saying, “The change in the rules will crystallise the loss of much unclaimed Gift Aid and make it harder for charities in future.”
He also stated that, as it was, many charities were not maximising the amount they could claim through Gift Aid, but at least the six year safety net used to give them time to make retrospective claims.
Waste not, want not
The Charities Aid Foundation has estimated that of the £900 million worth of Gift Aid for which the Third Sector is eligible, some £742 million remains unclaimed - much of it dating back more than four years. It’s therefore vital that charities check they are claiming all they are entitled to, before the timescale cuts come in next year. Otherwise it is simply a case of good money down the drain, and - especially in the current economic climate - that clearly shouldn’t happen.
Of course, making the appropriate investigations and filing claims accordingly is yet another burden on charities whose time and resources are already stretched. However, not devoting those resources to bringing in Gift Aid entitlements can undoubtedly be a false economy. This is where Charita’s legal and financial services can prove truly indispensable. To find out how we can help, why not contact a member of our team now at info@charita.co.uk?