Last updated 19 April 2024

Running the Gift Aid rule

Gift Aid is a tax relief allowing UK charities to reclaim an extra 25% in tax on every eligible donation made by a UK taxpayer.

IRIS Financials Charity Edition calculates the eligible amount of Gift Aid to reclaim using a rule. The rule looks at the transactions posted to the Gift Aid eligible nominals and applies the current Gift Aid rate to those transactions.

A Gift Aid (GAID) transaction debits the applicable amount of Recoverable Gift Aid to the Gift Aid Tax Claimed nominal and credits the Gift Aid Control Account.

User Field 1 of a GAID transaction contains the source document for the Gift Aid Claim.

Running the Gift Aid Rule

Select Processing Modules > MyReports.
Select the Gift Aid Schedule report.
Use the criteria to select the applicable Entity(s), Year and Period, then select View Report.
The report displays all transactions posted to Gift Aid Eligible nominals (refer to Add a Gift Aid nominal for more information) along with the associated donor details. Print and/or save a copy of this report for your records.
Export the Report to Excel and save to an applicable location. The report contains all applicable information required by HMRC to support your claim.
In IRIS Financials, select Rules > Gift Aid (Global).
Select ..., then select the period to calculate Gift Aid up to.
Select OK to run the rule.

The rule posts a GAID document containing the transactions eligible for Gift Aid reclaim.

Any Gift Aid eligible transactions added since the rule was previously run will also be included.
Submit

Viewing GAID documents

Go to Enquiries > Document Enquiry.
Select Equals from the Document Type drop-down list.
Select ..., then select GAID. then select OK.
Select Periods, then select Period Rage.
Select All from the Period Range drop-down list (or select the applicable period), then select OK to run the enquiry.
Select + to expand the GAID document(s) to view the transactions.