Gift Aid is great opportunity for CASCs to generate much needed extra income on gifts from individuals to the club. Membership subscriptions or payments for other goods and services do not qualify for Gift Aid. For every £1 donated, the Government will contribute an extra 25p, subject to certain conditions. These include the donor making a Gift Aid declaration and paying sufficient tax in the financial year. The CASC must keep suitable records of all Gift Aid donations and make a repayment claim online.
CASCs can also use the Gift Aid Small Donations (GASDS) scheme to receive a 'Gift Aid type' payment of 25p in the £1 from the Government on small cash donations from individuals to the club subject to certain conditions. The club must also be using the Gift Aid scheme above but without the requirement of obtaining declarations from the donor.
Companies can also benefit from donations to CASCs in the form of a deduction from their profits subject to corporation tax.
Please see the Q & A - Gift Aid section of the website if you would like more information on Gift Aid or GASDS and ways to use these schemes to raise cash for your club, for example, if your volunteers don't want to claim their expenses.