Charities set to lose �100m over Gift Aid cuts
Charities are set to lose �100 million as Gift Aid transitional relief comes to an end on April 5.
It affects all organisations dependent on Gift Aid including those in East London which have been able to reclaim the basic rate tax from the Inland Revenue with no extra cost to those making donations.
“Many local charities are going to suffer,” said accountant Helen Besant-Roberts, a consultant adviser to voluntary organisations.
“They will be badly affected at a time when they’re being hit from all angles with rising costs, government spending cuts, VAT rise and people giving less in a difficult economic climate.”
Now well-wishers are being urged to ‘get in quick’ and bring forward any pending donations before April 5 so charities don’t miss out. Gift Aid will carry on, but be worth less to charities.