When you donate and add Gift Aid through a donation platform using Swiftaid, all your future eligible donations through the growing number of supported platforms will include Gift Aid automatically.
This means less paperwork for you and charities, and more Gift Aid collected.
If your tax status changes or you move house, you won’t need to update multiple charities or providers with your new details, you can simply notify Swiftaid.
Swiftaid was developed in collaboration with The University of Surrey and co-funded by a successful InnovateUK grant 2018/19. Swiftaid lead the technology behind the Industry-wide project called The Future of Gift Aid.
Swiftaid work closely with HMRC when creating solutions. You can find Swiftaid listed on HMRC’s website - Gov.uk.
Gift Aid is an income tax relief designed to benefit charities and Community Amateur Sports Clubs (CASCs). If you’re a UK taxpayer, Gift Aid increases the value of your charity donations by 25%, because the charity can reclaim the basic rate of tax on your gift – at no extra cost to you.Learn more here
If you pay higher rate tax, you can claim the difference between the higher rate of tax (40% and/or 50%) and the basic rate of tax (20%) on the total ‘gross’ value of your donation.
If you pay Income Tax at the higher or additional rate and want to receive the additional tax relief due, you must include all Gift Aid donations from your Swiftaid account on your Self-Assessment tax return, or ask HM Revenue and Customs to adjust your tax code.
To work out if you’ve paid enough tax to cover your donations, divide the donation value by four. For example, if you give £100 in a particular tax year you will need to have paid £25 tax over that period. (£100/4 = £25). (Note that this calculation is based on the basic rate tax of 20 per cent).
If you don’t think you’ve paid enough tax this year, you may be able to carry back your donation to the previous tax year.
You are a UK income taxpayer if tax is taken from your wages or pension before you receive them. You fill in a self-assessment tax return for HMRC. Or; You have any taxable savings (e.g. in a building society), a pension plan, or investment income.
You may also have paid capital gains tax on the sale of property or shares, for example. Inheritance Tax does not count as income or capital gains tax.Learn more about Gift Aid from HMRC
When registering with Swiftaid, donors confirm they are UK taxpayers and let us know their email, name, and address. Donors are then asked to add their card details. This is so Swiftaid can add eligible Gift Aid to contactless donations made at any charity registered with Swiftaid.
For eligible donations, Swiftaid creates a Gift Aid declaration on behalf of the donor and submits a Gift Aid claim directly to HMRC. The donor's details are not shared with the charity in order to collect Gift Aid. At the end of the financial year we'll send the donor a statement which Higher Rate Taxpayers can use to reduce the tax they pay.