a scheme that allows a charity to claim tax exemption on individual charitable donations
Gift Aid in British English
or not standard Gift-Aid
noun
(in Britain) a scheme which allows charities to reclaim the basic rate of tax on donations made by taxpayers, increasing the size of the donation. Higher-rate taxpayers can also claim tax relief on their donations
▶ USAGE The official name of the scheme is Gift Aid, though the forms Gift-Aid and even GiftAid are used informally
gift-aid in British English
verb
a.
to increase the value of a charitable donation by using the Gift Aid scheme
Payments can be gift-aided if the donor is a standard-rate taxpayer
b. (often foll by it)
to make a donation under the Gift Aid scheme
c. (transitive)
to donate goods under the Gift Aid scheme; the charity may then reclaim basic rate tax on the declared value of the donated goods
The equipment can be gift-aided and we can write off the costs
Examples of 'gift aid' in a sentence
gift aid
The donations should be subject to gift aid tax treatment.
Times, Sunday Times (2012)
Gift Aid scheme means that we can reclaim tax on any donation you make to us.
Times, Sunday Times (2008)
To this end, the issues of tax relief or gift aid on donations to political parties have been suggested by some.
Times, Sunday Times (2006)
As charities, independent schools can also use gift aid to reclaim tax on donations from former pupils and benefactors, which can be significant.
Times, Sunday Times (2011)
Apart from anything else, is HMRC happy to apply gift aid tax relief on funds used for investment purposes?