john2938
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RE: Loan to charity is forgiven
While I appreciate the reply it doesn't really help much. I understand that the CASC cannot claim gift aid on several categories of donations, such as donations from limited companies, or that are a payment for goods or services, but none of the exclusions apply. When the member paid money to the club and at the time of payment expected to be repaid, the payment does not look like a gift. But on realising the seriousness of the club's financial problem the member decided to cancel the loan and no longer expect to be repaid. Is cancellation of the loan a gift for Gift Aid purposes? -
Loan to charity is forgiven
I am helping to administer gift aid for a CASC. When the club was in financial difficulties, a member put money into the club. It's not clear whether this was intended to be a gift or a loan. If it was a loan, and the member has now forgiven the loan, can the club claim gift aid? What's the deadline for claiming -- 4 years from receipt of the loan or 4 years from date that the loan was forgiven?