Swiftaid, a new technology that maximises Gift Aid for UK charities and their supporters has gained over 3 million users in just 8 months.
According to HMRC figures, over £564 million goes unclaimed every year in valuable income for charities through their tax relief scheme, Gift Aid. Predictions fear this number will significantly increase if the way it’s handled doesn’t move with the times.
The UK’s leading fundraising platform, JustGiving, recently partnered with Swiftaid and in a short time unlocked over £400,000 for charities in retrospective Gift Aid for the tax year ending April 2022 without costing donors a penny. £400,000 that would have otherwise been missed.
Swiftaid, created by fintech company Streeva, is authorised by a network of over 3 million UK taxpayers to create and give Gift Aid declarations on their behalf over the tax year.
Typically, when a Gift Aid declaration isn’t collected at the point of donation, charities often try to contact the donor and ask them to retrospectively complete a declaration. This takes time, money and typically isn’t very effective, and so Gift Aid is missed.
Charities can now simply check against the millions of UK taxpayers using Swiftaid, if a match is found, a declaration is created and Gift Aid is added. Matches can be made in real-time or retrospectively within the tax year.
Swiftaid’s growing network of over 200,000 new users every month, is designed to future-proof charitable giving and unlock missed Gift Aid, reducing the £564 million that goes unclaimed each year. Donor’s also receive end of year statement to help assist claims for higher rate personal tax relief.
With more charities and fundraising platforms using Swiftaid, missed Gift Aid can become a thing of the past.
“It’s an incredible milestone for Swiftaid, to think that in just a few months we have 10% of all UK taxpayers now registered with Swiftaid. Our mission with Swiftaid alone is to get an additional £1 billion to UK charities and individuals every year through Gift Aid and higher rate tax relief. At a time where additional income is needed more than ever, with the right partnerships and collaborations, this mission is easily obtainable.”
Beth Michael - Swiftaid Co-founder & Chief Operations Officer
