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Gift aid on donated goods





Not surprisingly, the idea has really taken off.
It now states: This process is exclusive to charity shops that operate a retail Gift Aid red valentino promo code scheme to sell goods on behalf of baby gift baskets afterpay donors.This allows the charity to reclaim gift aid on the amount of money that your unwanted jumper or pair of shoes is sold for.Our new Gift Aid Officer was advised by hmrc over the phone that it is not valid.He also writes and lectures on direct tax issues for charities and is a member of the Charities Tax Group.The owner has the right to keep all of the proceeds from the sale of their goods.Can I ask your opinion?It is the same principle as for charity shops.Hmrc has amended its entry-level guidance on the Retail Gift Aid process operated by charity shops.Any items not sold will be disposed of and cannot be returned.By signing up to Gift Aid for your donated goods, you will confirm that: You wish The Childrens Trust to act as your agent in selling the goods you have donated and agree to a commission of 2 for this service.It must be clear it is the individual who is selling the goods, and not the charity, which is merely days of the week gifts acting as an agent.You can claim Gift Aid on the agreed amount after any commission (including VAT) has been deducted.If in the above question, the husband could have asked for the proceeds of his items to be given to him by the church but decided after they were sold that he would donate the money to the church instead, then the donation would qualify.If you bring your card with you every time you donate to our shops, we can make your donations go further.
Writing this month in, taxation magazine, Richard Curtis says one point to remember when adopting this method, is that if the charity is selling on the supporter's behalf, "then for tax purposes, it is as if the supporter himself is making the sale".
It says a charity must make donors aware that, in the unlikely event someone who buys one of their items returns it and demands their money back, "it will be their responsibility, rather than that of the charity".




"Unfortunately, if this happens, there is nothing the charity can.David Moir at the Association of Charity Shops says the scheme helps to build up a good relationship between the organisation and the donor.Donating clothes or other items to charity could leave you hanging out to dry.You can find out more about Gift Aid on the Inland Revenue website:.If you are a UK tax payer, we can increase the value of your donated goods.Charities are reminded that donated goods sold through an online shop are eligible for Retail Gift Aid so long as it is not an auction format.We have in the past when a number of people gave a significant number of items, marked them and kept a record of what has sold of theirs (like a charity shop would) and then afterwards they filled in a form as above donating the.When you take your donated goods to any of our charity shops, just ask to register for Gift Aid, provided that you are a tax-payer.But Guardian Money can reveal that the way the gift aid scheme works means it is arguably open to being exploited by less charitable individuals, who could end up making money at the expense of good causes.By choosing to donate your unwanted items to St Michaels Hospice, you can be sure that your donation raises as much money as possible, and at no extra cost to you.Oxfam started rolling out its "Tag your Bag" gift aid scheme in February last year, and, so far, about 580 of its 700 shops have been signed up, with the rest likely to be fully on board within weeks.
If donors ask the charity to sell the item for them and then, when they know the amount involved, the donors agree that the charity can keep the proceeds, then Gift Aid can be claimed.
However, the charity wouldn't be able to claim gift aid on their donation.





Most Guardian Money readers will probably have come across gift aid as boosting the value of donations of money.
Each time you bring in a donation, hand over your card and your donor number will be written onto each item so that 25 of the selling price can be recovered.

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