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Report Needed For Charity (HMRC Gift Aid)


#1

We run a UK registered charity so some of our income is Gift Aided. Every 3 months I need to send HMRC a list of all the gift aided income showing who gave it, when and how much.
Is there any easy way to do this?


#2

Yeah, create new income account under your Chart of Accounts. Then every three months, you can export list of transactions in that income account which will contain date, payer and the amount.


#3

Thanks for your reply it is much appreciated and with a little more advice from you I can see it working. At the moment when money comes in it is allocated via my Chart of Accounts list to categories e.g. sponsorship, donations, etc.

Some of these are eligible for Gift Aid relief from the government and some are not.

So if I follow your suggestion and create an income account called say ‘gift aid’ and insert income that qualifies under that heading that would work BUT how could I then still allocate the money to the appropriate category such as sponsorship or donations?


#4

I see. You could use Tracking codes concept. Create single tracking code called Gift Aid and then each receipt that is eligible, mark as Gift Aid under Tracking codes column.

Every three months, you can create custom P&L statement that will show amounts across all your income accounts that are subject to gift aid relief.

See more: http://www.manager.io/guides/miscellaneous/tracking-profitability-by-division/


#5

That sounds perfect but where do I find Tracking Codes? I see in the article it says there is a module for this but I can’t seem to find it.


#6

You need to go to Settings tab, click Customize at the top then tick Tracking Codes then click Update button.


#7

Success.

Thank you very much