Turcan Connell, a Scottish firm of solicitors and asset managers, has launched an app, which allows users to calculate how much Gift Aid could boost their donations to their favourite charity. Free to download from the Apple App Store and designed for both the iPhone and iPad, Turcan Connell hopes that its launch will bring the message of Gift Aid to the fore and remind the public just how valuable their donations can be to a charity.
The Gift Aid scheme is for gifts of money by individuals who pay UK tax. Gift Aid donations are regarded as having basic rate tax deducted by the donor. Charities or CASCs take your donation - which is money you've already paid tax on – and reclaim the basic rate tax from HM Revenue & Customs (HMRC) on its 'gross' equivalent – the amount before basic rate tax was deducted. Basic rate tax is 20 per cent, so this means that if you give £10 using Gift Aid, it’s worth £12.50 to the charity. For donations between 6 April 2008 and 5 April 2011 the charity or CASC will also get a separate government supplement of three pence on every pound you give.
Douglas Connell, Turcan Connell Joint Senior Partner, commented: “When you consider that £750m of potential revenue is lost to charities each year through Gift Aid not being utilised, it becomes clear how important it is to encourage donors to make best use of it. Our app has been designed to allow users to see at the touch of their screens how valuable their donations could be with Gift Aid. We really want people to make this the year of giving with Gift Aid.”
Those who download the app can use it in two ways – either to see how much a charity will receive if they donate a specific amount or to calculate how much they need to give in order for a charity to receive a particular total amount. The app was designed in conjunction with Glasgow-based digital agency Innovation Digital.