Gift Aid goes online

The government is changing Gift Aid with the introduction of mandatory online tax reporting using Charities Online. Richard Bray FCA considers the pitfalls

About 100,000 charities claim Gift Aid worth approximately £1bn every year. That is a large number of charities and a substantial sum of money. It is likely that many readers will act for a charity, be a trustee or have friends or contacts who work with charities. Charities Online, the new way that charities claim tax back from HMRC, could be a very relevant issue for you.

So why is Charities Online important, what do accountants need to know about it and what opportunities does it bring for professional advice?

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