HM Revenue and Customs has updated its guidance for charities to confirm that donations of cryptoassets are not eligible for Gift Aid. This is because HMRC does not consider cryptoassets to be currency and Gift Aid applies only to gifts taking the form of a sum of money. The guidance advises that where a donor holding cryptoassets wishes to benefit from Gift Aid they must convert those cryptoassets into money and make a cash donation under the Gift Aid scheme.
sobus
20 Dawes Road, London, SW6 7EN
Telephone 020 7952 1230
Email info@sobus.org.uk
Registered Charity No.1071089
and Company Limited by Guarantee. Registered in England No.03471416
Sobus is a new Community Development Agency for Hammersmith & Fulham. It has been created through the merger of the Community and Voluntary Sector Association Hammersmith & Fulham (CaVSA) and the Fulham Community Partnership Trust (FCPT). Building on the strengths of both organisations, sobus aims to provide a wider range of support services for local charities, community groups, social enterprises and start up businesses.