HMRC still favours electronic payments, not cheques, for Gift Aid repayments

first_img  44 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 Although the Payments Council recently decided not to withdraw the use of cheques in 2018 as originally planned, HM Revenue & Customs (HMRC) is reminding charities that it will continue to move to making Gift Aid repayments electronically, rather than by cheque or payable order.HMRC originally made this announcement in April before the Payments Council’s change of direction.HMRC says that it favours payments by BACS because it “will provide greater security for charities and HMRC by protecting against fraudsters”. It will also reduce the organisation’s administrative costs and result in charities receiving repayments from HMRC more quickly.Indeed, if HMRC already holds bank details for a charity or Community Amateur Sports Club (CASC) it will now make any Gift Aid repayments automatically by BACS. Organisations that wish to receive electronic repayments should send their bank account details to HMRC on form ChV1.www.hmrc.gov.uk/charities/ga-repayments.htm About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: Finance Gift Aid HMRC HMRC still favours electronic payments, not cheques, for Gift Aid repayments Howard Lake | 18 August 2011 | Newslast_img read more

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