What is Gift Aid?
Gift Aid is a government scheme that allows recognised charities and Community Amateur Sports Clubs (CASCs) to claim an additional 25p for every £1 you donate. So if you are a UK taxpayer, you can increase the value of your donations by 25% at no extra personal cost. Simply fill in the requested details and tick the box to confirm your taxpayer status.
Who are we?
Crezco Limited is a company incorporated and registered in England and Wales (Company Number 117521825) whose registered office is at 192 Campden Hill Road, Notting Hill Gate, W8 7TH. We are a payments app that enables users like you to send and receive money securely via Open Banking technology. Consequently, Crezco is regulated by the Financial Conduct Authority (the “FCA”) as Authorised Payment Institution with the Firm Reference Number 925173.
What is Crezco’s role with Gift Aid?
When you make a donation via our Open Banking technology and claim Gift Aid as a UK taxpayer in accordance with the Gift Aid Scheme, we collect the necessary information (such as your name and address) on behalf of your selected charity to process the Gift Aid. Crezco does not claim the Gift Aid on their behalf, but securely sends the information collected to each charity to claim the Gift Aid as requested.
What is Crezco’s fee?
We do not generate a fee for processing these donations. There are no revenues, subscriptions fees, interchange fees or any other fees connected with these donations. Each donation made by you comes as a cost to us, but we do it because we too want to support these charities and we want you to recognise the value in our Open Banking technology.
How can I be sure my donation is eligible for Gift Aid?
To say yes to Gift Aid you must be a UK taxpayer and understand that if you pay less Income Tax and/or Capital Gains Tax in the current tax year than the amount of Gift Aid claimed on all your donations, it is your responsibility to pay any difference. Gift Aid is equal to 25% of your donation. For example, if you donate £10 and say yes to Gift Aid, your charity can claim an extra £2.50 from the government. You will need to pay more than £2.50 in Income Tax and/or Capital Gains Tax in that tax year though. We’ll also need your full name and home address to claim Gift Aid.
Is my company donation eligible for Gift Aid?
Unfortunately not. Gift Aid only applies to personal donations. For a charity to benefit from the tax on a company donation, the donation should be paid gross (without deducting Income Tax). The company can then claim tax relief when calculating its profits for Corporation Tax. For further information, please contact your tax office or accountant.
Where can I get further information about Gift Aid?
For further information about Gift Aid, take a look at the HMRC website or the Institute of Fundraising website. Alternatively, contact your local tax office.
If you wish to contact us in writing, please contact us at:
Address: Crezco Limited, 192 Campden Hill Road, 192F, Notting Hill Gate, London, W8 7TH