Gift Aid Policy

Last updated: 04/12/20

 

Introduction

Welcome to the Vision Foundation’s Gift Aid privacy notice.

Retail Gift Aid Agency Agreement Terms & Condition

  1. On completing the Vision Foundation Gift Aid Declaration Form (‘the Form’) and presenting it to a Vision Foundation shop, you are confirming that you are the owner of the goods which you have made available for sale. You will be allocated a unique Donor ID number, which will be used to identify your goods so that Vision Foundation (Charity No 1074958) can track the money generated from the sale of your goods. This Information is to be read together with the Form and forms part of the Agency Agreement which you have agreed to upon completing the Form.
  2. Vision Foundation will be free to decide whether all or any of your goods are suitable for sale and will seek to sell these goods on your behalf in whatever manner it decides and at any price that it considers appropriate. If Vision Foundation considers that all or any of the goods are unsuitable for sale, have not sold within a reasonable period or in the event that Vision Foundation is unable to process the proceeds of the sale of your goods through the Gift Aid scheme for whatever reason you hereby agree that Vision Foundation in its sole discretion reserves the right to take ownership of these goods and sell, recycle or otherwise dispose of them as it sees fit and is not under any obligation to notify you of any proceeds accruing or retained from such sale(s).
  3. A commission of 2% (plus VAT) will be charged by Vision Foundation on the sale proceeds realised from selling your goods to cover the costs of administering the Gift Aid scheme. From time to time Vision Foundation will review its commission rate but will only be required to formally notify you of any change where there is an increase in that rate to above 5% (plus VAT). The current rate will always be available at the web address detailed in clause 10.
  4. You agree that Vision Foundation will not write to you to confirm the sales value of your goods, provided that the total value of the money raised, after deduction of the commission and VAT (‘Net Proceeds’), of your goods in any tax year is equal to or less than a £100 threshold (or such amount as is specified by HMRC from time to time). You may notify us in writing at any time to Vision Foundation, Sir John Mills House, 12 Whitehorse Mews, 37 Westminster Bridge Road, London, SE1 7QD if you no longer want this arrangement to apply. We shall write to you to confirm your consent (for the amount specified by HMRC) once a purchase is made that brings the total value of the Net Proceeds of the sale of your goods to funds over and above the initial threshold of £100.  We will notify you annually of the total value of sales achieved in a tax year at the start of the next tax year.  This statement provides information you may find useful in settling your tax position and for completing your Self Assessment tax return if you are asked to complete one.  The statement does not permit the request for a refund of all or part of the Net Proceeds. If you pay Income Tax at the higher or additional rate and want to receive the additional tax relief due to you, you must include all your Gift Aid donations on your Self-Assessment tax return or ask HM Revenue and Customs to adjust your tax code. If less than £5 has been raised from the sale of all your goods during a 12 month period, you hereby agree that Vision Foundation may treat the goods as having been donated to Vision Foundation. In this instance Vision Foundation may choose not to contact you regarding the Net Proceeds.  Vision Foundation will always contact you if Gift Aid is to be claimed on this amount.
  5. If your Net Proceeds exceed £100 (or such amount as is specified by HMRC from time to time) in any tax year Vision Foundation will contact you when Vision Foundation has sold your goods (except where the Agency Agreement ceases under Clause 2) to confirm the value Net Proceeds. If Vision Foundation does not receive a written response from you within 21 calendar days of sending you the Net Proceeds notification (this begins from the date of Vision Foundation’s letter/email communication), we will assume that you consent to donate the Net Proceeds that exceed the £100 threshold to Vision Foundation. Vision Foundation will then claim Gift Aid on this donation (i.e. on the Net Proceeds). Should you choose to retain the Net Proceeds that exceed the £100 threshold you will have 21 calendar days to respond to Vision Foundation and the response needs to be received on or before the 21 calendar days lapse. Your response to Vision Foundation must be sent to Retail Gift Aid, Sir John Mills House, 12 Whitehorse Mews, 37 Westminster Bridge Road, London, SE1 7QD. We will make a payment to you by remitting the Net Proceeds that exceed the £100 threshold directly into your bank account (subject to you completing the bank account details form which will be provided). We will endeavor to remit to you within 45 days of receiving your bank account details. You waive the right to claim interest that may have accrued on any cash you decide to reclaim from the sale of your goods. We may send you the Net Proceeds notification by e-mail if you have provided your e-mail address on the Gift Aid Declaration Form or otherwise by letter to the home address provided.
  6. Subject to you being a UK taxpayer, Vision Foundation will reclaim 25p of tax on every £1 of Net Proceeds generated on cash from the sale of your goods (whilst the basic rate of income tax remains at 20%). The amount of Gift Aid claimed could be subject to change in legislation. To qualify for Gift Aid you must pay more Income Tax and/or Capital Gains Tax than the amount of Gift Aid claimed on all your donations in that tax year and it is your responsibility to pay any difference.  Please notify the charity if you want to cancel your declaration, change your name or home address or no longer pay sufficient tax on your income.  Please advise us in writing at: Retail Gift Aid, Sir John Mills House, 12 Whitehorse Mews, 37 Westminster Bridge Road, London, SE1 7QD.
  7. Although unlikely, you may be liable to capital gains tax if one of your goods (for example jewellery, paintings or antiques) is disposed of for more than £6,000 and your total capital gains for the year exceed the annual tax-free allowance (currently £11,700 for the year to 5 April 2019). Any such liability arising remains your responsibility. If you sell significant quantities of goods in this way you must also consider your own position in terms of income tax on trading activities.
  8. In the unlikely event of a purchaser returning any of your goods to a Vision Foundation shop for refund or exchange due to a fault or a change of mind, Vision Foundation will assume financial responsibility for the refund or exchange as appropriate. The purchaser will have no recourse to you on either the condition of your goods or for any monies that are received on your behalf.
  9. The Agency Agreement may be terminated in writing by Vision Foundation or you at any time (except where the Agency Agreement ceases under Clause 2). If you wish to terminate the Agency Agreement, please write to: Retail Gift Aid, Sir John Mills House, 12 Whitehorse Mews, 37 Westminster Bridge Road, London, SE1 7QD.
  10. These Terms and Conditions may vary from time to time. Copies of the most recent information will always be available on request at your local Vision Foundation shop and our website at visionfoundation.org/retail-gift-aid