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    Tag: Charity

    Gift Aid: Maximising charitable impact

    Posted on by Laura Bannan

    Gift Aid stands as a powerful tool that allows charities to amplify their impact by reclaiming 25p every time a UK taxpayer donates £1, at no extra cost to the donor. However, as with any financial mechanism, there are both benefits and restrictions associated with Gift Aid. We take a look into the advantages of Gift Aid, explore its limitations, and discuss strategies for charities to maximise their income while effectively managing the process.

    Benefits of Gift Aid:

    Financial boost

    Gift Aid provides a significant financial boost to charitable organisations. The 25% top-up on eligible donations can make a substantial difference in funding various projects and initiatives.

    Encourages regular giving

    Gift Aid encourages regular giving by incentivizing donors to commit to ongoing support. This predictable income stream enables charities to plan and execute long-term projects with confidence.

    Enhanced donor relationships

    By utilising Gift Aid, charities can strengthen their relationships with donors. The transparency and efficiency of the process demonstrate responsible financial management, fostering trust among supporters.

    Expanded fundraising opportunities

    Charities can leverage Gift Aid to attract new donors by emphasising the added value their contributions can have. This expanded fundraising potential opens doors to broader community support.

    Restrictions and challenges:

    Eligibility criteria

    Not all donations qualify for Gift Aid. The donor must be a UK taxpayer, and the charity must have the necessary information to claim Gift Aid. Failure to meet these criteria can result in missed opportunities.

    Administrative burden

    Managing Gift Aid claims can be administratively challenging for smaller charities with limited resources. Proper systems and processes must be in place to ensure compliance and efficient processing.

    Tax implications for donors

    Donors should be aware that Gift Aid donations affect their tax status. It’s essential for charities to communicate this clearly to avoid misunderstandings and to help donors make informed decisions.

    Maximising income and effective management:

    Educate donors

    Charities should educate donors about the benefits of Gift Aid and guide them through the simple declaration process. Clear communication helps donors understand the impact of their contributions.

    Invest in technology

    Implementing digital solutions and fundraising platforms that automatically handle Gift Aid declarations can streamline the process and reduce administrative burdens. This is especially beneficial for charities with limited resources.

    Regularly review and update processes

    Charities should regularly review their Gift Aid processes to identify areas for improvement. Staying informed about changes in legislation and adjusting systems accordingly ensures compliance and maximizes income.

    Use accounting and tax professionals

    Government guidance on Gift Aid is intricate, covering everything from church collections to charity auctions, so consulting an expert, or at least reading the documentation very closely, is a must. Establishing partnerships with professionals can help charities navigate the complexities of tax legislations, ensuring accurate Gift Aid claims whilst minimising the risk of errors.

    Ensure there is a complete audit trail

    HMRC are increasingly investigating claims and they expect a charity to be able to document the path of a donation, including linking the donor to a valid Gift Aid declaration.

    Conclusion:

    Gift Aid is a potent tool for charities, offering financial advantages that can significantly impact their ability to fulfill their missions. While navigating the associated restrictions and challenges may seem daunting, strategic approaches, effective communication, and the right technological investments can assist charities to maximise their income through Gift Aid and make a lasting difference in their communities.

    PM+M’s inaugural sports day raises over £600 for Bury Hospice

    Posted on by Laura Bannan

    As part of our ongoing charity fundraising activities, our Bury office has staged a fun sports day which has so far raised over £600 for Bury Hospice.

    We invited clients and fellow members of the local business community to our office on Waterfold Business Park who participated in a range of events including static cycling, crazy golf and  ‘Bury bin ball’ which involves 20 ping pong balls and a bin.

    Helen Clayton – Partner and Head of PM+M’s Bury office – will be raising even more money for the Hospice later this year when she takes part in two half marathons and the Bury 10k.

    Under Helen’s direction the team was also involved in the recent Bury Hospice Young Business Innovation Team Challenge. The “Apprentice” style challenge saw Philips High School, Unsworth Academy and Bury College take part. Helen mentored the Bury College team who designed an escape room as their business idea which raised over £500 and won the award for the best video.

    The firm was also a co-sponsor at the Bury Hospice Sportsman’s Dinner which was staged at The Stables in Bury on March 11th. The night raised an incredible £21,000.

    Helen Clayton said: “Bury Hospice provides a vital service to the local community, and is part of the region’s fabric, so we are delighted to be helping raise as much money as possible. We hope we are making a small difference and we look forward to partnering with the Hospice on future fundraisers.”

    Alison Holland – Corporate Fundraiser at Bury Hospice – added: “Helen and the team have done a huge amount for the Hospice this year, so we’d like to thank them for all their ideas and efforts. Partnering with local businesses is an essential part of our fundraising operations and helps us provide the specialist care and support our patients and their families need.”

    A ROUNDUP OF OUR ‘NAVIGATING THE NOW AND NEXT’ EVENT – THURSDAY 30 JUNE

    Posted on by Laura Boyd

    The sixteenth in the series of PM+M’s ‘Navigating the Now and Next’ virtual panel events took place on Thursday 30 June, facilitating discussion between a panel of speakers on the current challenges faced by businesses and highlighting support, guidance, and best practice to navigate these going forwards.

    Hosted by our very own Neil Welsh, with digital hosting managed by our friends at The Landmark in Burnley, we welcomed panellists:

    Gary Robinson (Blackburn Rovers Community Trust)
    Oli McCann (Napthens LLP)
    Simon Brierley (East Lancashire Chamber of Commerce)
    Lisa Sourbutts (CUBE HR)

    Following the opening introduction and welcome from Neil, Gary Robinson (Blackburn Rovers Community Trust) kicked off proceedings by discussing the important work the charity is currently undertaking within the local community, like hosting the recent Eid prayers on the pitch at Ewood Park which received very positive feedback.

    Gary went on to describe the ever-increasing importance of prioritising employee mental health and wellbeing in times of rising pressure and uncertainty, which has included the introduction of forums, wellbeing calls and the training of staff to increase awareness of the importance of mental health, as well as coping devices for those who may be struggling.

    Oli McCann (Napthens LLP) was up next and discussed the exponential growth of the Napthens team in the past ten years as well as some of the key takeaways from his experience with the firm. From the position of the employer, Oli highlights some of the more desirable qualities in a candidate, besides working hard and being committed, which include being true to yourself and having some front-of-house experience. Excellent interaction skills are key for those in the legal profession, and some would argue they are more valuable than technical skills.

    Next up, Lisa Sourbutts (Cube HR) shared some extremely valuable insights of her experience of recruitment and retention during the so-called ‘great resignation’. Lisa explained how employee engagement and culture are the main areas that need attention to improve staff retention. Businesses should offer some level of personal focus when it comes to supporting their staff to avoid alienating individuals, as not all team members will have the same issues and needs. By adopting a better company culture, staff are encouraged to speak more freely of their issues, letting employers draft up a plan of action, before it’s too late.

    Steering the conversation back to recruitment, Lisa advised it was much better to be proactive and have a succession plan in place, than run the risk of having to react every time a team member hands in their notice. Lisa also suggested that businesses may benefit from being quicker at making decisions during the interview process, or at least keeping the candidate informed of realistic timelines.  Gathering feedback from successful candidates on their experience during the recruitment process can also be useful in providing key insights into improving your methods.

    Our final panellist, Simon Brierley (East Lancashire Chamber of Commerce) added further valuable insights into the topic of culture and retention by sharing one of the most challenging moments he has experienced in a previous role. In a time where 2BR (a previous business Simon worked with as a radio presenter) was getting ready to merge elsewhere, rather than rushing to leave the business to find new jobs, Simon found that staff members stayed for the final few months and were working hard to outperform any of the previous achievements made by the business. The experience goes to show that a great company culture will be reflected by a great team.

    Neil brought the panel discussion to a close and opened the floor to the audience, with additional comments and thoughts from Ceri Dixon (PM+M), Andy Platt (Simply Corporate), Azeem Khan (Gemini GRP) and Claire Rhodes (The Landmark), before thanking Claire for hosting the event.

    If anyone would like to be introduced to members of the panel or audience, included in the invite for next month’s event or wish to speak to one of the PM+M team about our services, please get in touch with Neil Welsh via the button below.