HI
If an individual buys NFTs created by the charity project, is there any tax benefits available like gift aid donations? And what if he will sell that NFT in future, it may have CGT implications. I am unable to find anything on HMRC portal. Anyone who can share his experience on it please
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To qualify for relief under Gift Aid, there has to be a donation of money to a charity. In the scenario that a taxpayer buys NFTs, regardless of the source of the NFTs, the charity has not received a gift of money from the taxpayer. No relief is therefore due.
Is there any way we can make it qualify for gift aid like if these NFTs are not for resale purpose etc..
No.
The clue is in the name of the scheme ... *gift* aid (not purchase aid) - as per earlier responses. If your 'donor' received anything, then the amount paid over constitutes consideration (not a gift).
