Christian charity Stewardship, which helps churches and Christian charities process donations, has announced it is introducing a new way to speed up adding Gift Aid to donations.
The new feature will allow money that Stewardship account holders put into their account to be distributed to a charities with Gift Aid immediately, rather than waiting seven days or so for HM Revenue and Customs to process it.
Stewardship will do this by underwriting the value of reclaimed tax to donor advised fund (DAF) account holders at the point of their incoming gift. It will apply to all gifts of under £25,000.
Stewart McCulloch, chief executive of Stewardship, said is now able to offer this service because of HMRC’s launch of online Gift Aid claims, which he said has dramatically shortened claim processing times from seven to 10 weeks to a few days.
The charity plans to go live with the new feature in two weeks’ time. It says it is first time a DAF has offered the provision anywhere in the UK.
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