I am the treasurer of the local PTA and we are looking into registering for Gift Aid. It looks fairly arduous to apply and there are claims, records to keep and the risk of an HMRC audit. However it would be great to get some tax back.
While I am well placed to assist, I am not sure whether I want to submit the returns personally or in the name of my practice given the risk of HMRC audit.
This work would be voluntary so no fee - would it be covered by my PII?
Does anyone else do such work in their practice name?
Thanks
Replies (5)
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It's actually fairly easy
I have registered a few charities. The registration was quite straightforward and the records are fairly simple to keep (Excel plus signed forms).
Making a claim can take as little as 10 minutes each time.
I assume you are a trustee, so if you have trustee insurance that may cover you.
If you do go for it, don't forget the GASDS (loose cash) claims.
Agreed
It's all done on line now, HMRC provide the claims forms and the process is relatively easy. The key of course is to have each donor sign a gift aid form beforehand.
More daunting than it looks
I registered our PTA for gift aid last year. The registration took an age to come through (12 weeks I think in the end - just Hmrc backlogs) but the registration form itself was easy to complete.
TheN you need to make sure that you have the right forms for the donors - the HMRC website gives all the wordings, so just copy it onto your own forms. What you wil find is that eg. On sponsorship forms people will fill them in in every possible wrong way (however idiot proof you think they are!) - so it takes a little while to do the claim as you review each form. For example - I had one form where apparently about 40 people lived at the sponsored child's address!
Dedicated software
I use Data Developments Gift software its a dedicated gift aid package and starts at one charity but will handle claims for many. Once the database is set up it knows the regular gifts so you just need to tick they're in (which I do when I reconcile the bank - so each statement has two ticks (and that's all it takes haha)) .
It will do one off gifts, GASDS, sponsor forms and submission to HMRC is just online no silly spreadsheets it really is like your tax software a doddle to use (well mine anyway ). If the data in is done I think some thing like 5 clicks to file a claim and the money arrives 2 weeks later in the charity bank account.
It also is set up for those who do multiple charities to invoice and manage that
It does reports and letters and it works - I'm not connected to the company just a long time user
M