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Do you make gift aid charitable donations and pay higher rates of tax? If so, it is worth remembering that any donations made before 5 April will see you receive the benefit much sooner than ones made just after. So if you have someone that you've been meaning to sponsor, if you do this before 5 April you will see a reduction in your tax bill in January 2025, whereas if you make this payment on 6 April you won't see the benefit until January 2026. https://buff.ly/2MRNGo0 #SelfAssessment #Donations

🎗️Corporate claims for charitable donations🎗️ When a limited company makes charitable donations specific rules apply. These may include Corporation Tax relief for donations to registered charities or community amateur sports clubs (CASC). However, the rules are different if the company is given something in return for making a donation, such as tickets for an event. You can find out more here https://lnkd.in/exHRm4yp #NationalInsurance #Employers #StayInformed #BusinessUpdates #HMRC #lancashirebusiness #businesshelp #ChorleyAccountant #LancashireBusiness

Registration figures from the Charity Commission: 2023 saw 4,829 organisations register as charities in England and Wales, a positive increase from a 33-year low of 4,021 in 2022. The number of charities removed from the register fell from 5,918 in 2022 to 4,522 in 2023.   There were 191 mergers recorded in 2023, a sharp decline from the figure of 1,588 in 2022. However, the high 2022 figure is due to 1,279 Jehovah’s Witness congregations being merged into one charity: the Kingdom Hall Trust.   A Charity Commission spokesperson told Civil Society: “The number of applications to register, as well as removals from our register can fluctuate. However, we continue to have a strong charitable spirit in this country which is demonstrated by the number of new applications we received last year.”   You can read more here: https://lnkd.in/eFEGtMiY   #Birketts #BirkettsCharitiesTeam

🙋🏻♂️ Charitable donations can offer significant tax relief for individuals and businesses. Understanding these benefits can encourage more people to support charitable causes while also gaining financial advantages. 🎁 How Does Gift Aid Work? 👉 Gift Aid is a scheme allowing charities to reclaim tax on a donation made by a UK taxpayer, effectively increasing the amount of the donation by 25%. 👉 To make a Gift Aid donation, you must have paid UK Income Tax and/or Capital Gains Tax at least equal to the tax that all the charities and community amateur sports clubs claim on your donations in that tax year. 🧩 For example, if you donate £100, the charity can claim an extra £25, making your donation £125. #taxrelief #charitabledonations #uktaxpayers #giftaid

📣 Members of our Charity & Not-for-Profit team (Keith Macpherson, Susan Pattison, and Alan Davis) recently held a Charity Trustee Training webinar where they discussed the general tax implications of setting up a trading subsidiary of a charity.   If you missed the live session or would like to watch it again, you can do so by clicking the link below 👇  https://lnkd.in/g_bRd3fn   #CharityTrustees #Webinar

If you are a CEO in a charity, I strongly recommend that your Chair joins the Association of Chairs. Their publication ‘A Question of Balance’ is a brilliant document that details all you need to know about how to build an effective working relationship between the Chair and CEO. If every organisation strived to have these fundamental ways of working in place, I really believe that charities would achieve more. #makeadifference #charity #leadership

Local charities have a big impact on their communities. These grassroots groups are embedded in their communities, having an intimate understanding of local issues and tailoring their efforts to address specific community needs. They are trusted by local people and can get to the root of problems more effectively, fostering genuine, long-term change. Despite this, local charities frequently receive less attention and funding than their national counterparts, which often capture the lion's share of public and corporate support. Each year, we work with over 500 local charities. As a Community Foundation,  our role within Norfolk is to ensure that these grassroots groups receive the vital funding they need to make a difference in individuals' lives. We understand the crucial roles which local charities play and are pleased that The Centre for Social Justice is drawing attention to the funding challenges facing small charities. Their new report, ‘Underfunded and Overlooked’, highlights some concerning statistics that resonate with our experiences: 📈Post-pandemic, average expenditure for small charities has increased by nearly 12%, while income has only risen by 3%. 📌75% of the sector’s total income is received by just 1% of charities, with London-based charities receiving up to eight times more public funding than those elsewhere. 🪙85% of all charitable income in England and Wales is concentrated in just 4% of registered charities. 🪣The 10 largest charities spend more on fundraising alone (£243 million) than the combined total income of over 75,000 smaller charities. At Norfolk Community Foundation, we are committed to helping small charities overcome these funding challenges. We want to ensure local charities have the support they need to continue their invaluable work. Thank you to everyone who supports our mission and helps make a difference in Norfolk. #ShineBrighter #Norfolk #Charity 

🧣 As winter intensifies, 1 in 5 UK charities may face service closures, echoing the recent shutdown of prominent organisations within the sector. Successfully overcoming these challenges requires strategic planning, strong governance, and decisive actions from trustees, which you can read about below ⬇️ #Charities #NotForProfit #Trustees #WinterSeason

🧣 As winter intensifies, 1 in 5 UK charities may face service closures, echoing the recent shutdown of prominent organisations within the sector. Successfully overcoming these challenges requires strategic planning, strong governance, and decisive actions from trustees, which you can read about below ⬇️ #Charities #NotForProfit #Trustees #WinterSeason

https://lnkd.in/dar7G-_A Explore Gift Aid's impact on UK charities and CASCs, including declaration forms, benefits, and compliance in this comprehensive guide.