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Hello,
Hs anyone seen the below new guidance form HMRC? Does this mean we can now claim gift aid on uncashed cheques?
“Claiming Gift Aid on waived refunds and loan repayments
In response to representations by CTG, HMRC accepted in 2021 that a loan waiver could quality as a Gift Aid donation and issued guidance in October 2022. Previously, the loan had to be physically repaid and “re-donated” to the charity on the premise that there had been no “payment of a sum of money” to the charity by way of gift, as required by the Gift Aid rules. From the charity’s perspective, this introduced the risk that the follow-up donation might not be made, or not made in full.
After much delay, HMRC has finally agreed revised guidance proposed by CTG and this is now available on the HMRC website.
The full text of the new HMRC guidance on claiming Gift Aid on waived refunds and loan repayments can be found here”
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