Retail Gift Aid is a government scheme that allows charities to reclaim 25% from HM Revenue and Customs (HMRC) on the sale of the donated goods, increasing the value of your donations at no extra cost to you.
Why sign up for Retail Gift Aid?
Retail Gift Aid helps your donations go even further to raise vital funds for LOROS. For example, if your donated goods are sold in our shops for £10, LOROS could claim a further £2.50 from HMRC which would make your total donation £12.50
Who can sign up for Retail Gift Aid?
In order for LOROS to reclaim the tax you have paid on your donations, you must have paid income or capital gains tax (in the UK) for each tax year (6 April to 5 April) at least equal to the tax that all the charities or Community Amateur Sports Clubs that you donate to will reclaim on your gifts for that tax year. Other taxes such as VAT and council tax do not qualify.
The process is simple - all you have to do is make a Retail Gift Aid declaration. The next time you visit any of the LOROS shops with your donations or you request a collection, please ask to sign up for Retail Gift Aid. The only information we require from you is your full name, home address and email address (if possible, to help us contact you in the most cost efficient way) and a signature.
You will be confirming that you wish LOROS Enterprises to act as your agent in selling your donated goods and you are not acting as a business in selling your goods.
This declaration is only required once.
What happens after you sign up?
You will be given a LOROS donor card with your own unique barcode which you can present in any of the LOROS shops when you make a donation.
We will write to inform you periodically how much your donations have raised for LOROS and that you're happy for us to claim Retail Gift Aid on the amount.
Please contact us if there is a change in your circumstances and as a result you need to cancel your Gift Aid declaration.
If you have any questions about Retail Gift Aid in the LOROS shops please email or call (0116) 231 8406.