UK charities 'missing out on £1bn' in donations
Charities
28th January 2009
Charities in the UK are losing out on up to £1 billion a year in donations, a new study has found.
According to research by the independent financial adviser portal Unbiased.co.uk, charities could have received more cash if donors had made more use of tax allowances, reports Which?.
David Elms, chief executive of the website, said that the taxman was benefitting from around £1 billion that could have gone to good causes through Gift aid.
"Despite fears of recession looming, many individual donors have increased their charitable support in 2007-08, but it is unfortunate that not all donations are being made in a tax-efficient manner," he commented.
Gift aid can be backdated for up to six years before the date of a declaration.
If a customer pays the basic rate of tax, they will not be able to claim further tax relief on payments.
