2015 Budget: Gift Aid for more small donations
Among the changes announced on Tuesday 17th March 2015 was a measure that should increase the gift aid many of our churches are able to reclaim.
Currently, gift aid can be reclaimed on ‘small donations’ (usually cash in the offering bag) up to a limit of £5,000.
The amount of small donations charities can get an extra 25% top up payment on in gift aid without needing any paperwork is increasing from £5,000 to £8,000 a year.
The government expects 6,500 charities to claim in full the higher new cash boost of £2,000 a year – nearly double the current amount.