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All for charity
KEY POINTS
- Criteria for gift of money to a charity to qualify for gift aid.
- Individuals can gift using charity vouchers or from a charitable trust.
- HMRC enforces the gift aid rules and trustees may be personally liable for losses.
- Specific wording should be used on literature for charitable events.
Charity fund-raising dinners have been for some time ‘big business’ and although most would be on a much smaller scale than the one in London 11 years ago featuring Bill Clinton and Madonna (see Charity Events) the tax issues would be identical.
Whatever the size of the event it is crucial to ensure that best use is made of the tax benefits available. The article is based on work conducted with HMRC to clear up confusion over issues on claims for gift aid....
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