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What is Gifted?when an individual donates money to a charity, the Gifted scheme enables the charity to claim back the basic rate of tax already paid on the donation. Most donations are eligible for
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Gift Aid is a UK tax incentive that allows charities to reclaim an extra 25% in tax on every eligible donation made by a UK taxpayer.
Charities that are eligible to claim Gift Aid must file Gift Aid with HM Revenue and Customs (HMRC).
Charities can fill out Gift Aid by keeping records of donations, completing a declaration form with the donor's details, and submitting the claim online or by post.
The purpose of Gift Aid is to encourage donations to charities by providing tax relief to donors and increasing the value of donations.
Charities must report details of donations, donor declarations, and any additional information required by HMRC.
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