Author: Steve Bicknell

Gift Aid donations are regarded as having basic rate tax deducted by the donor. Charities or CASCs take your donation – which is money you’ve already paid tax on – and reclaim the basic rate tax from HM Revenue & Customs (HMRC) on its ‘gross’ equivalent – the amount before basic rate tax was deducted.

Basic rate tax is 20 per cent, so this means that if you give £10 using Gift Aid, it’s worth £12.50 to the charity.

A Gift Aid declaration must include:

• your full name
• your home address
• the name of the charity
• details of your donation, and it should say that it’s a Gift Aid donation

Higher rate taxpayers

If you pay tax at the higher or additional rate, you can claim the difference between the rate you pay and basic rate on your donation. Do this either:

• through your Self Assessment tax return
• by asking HM Revenue and Customs (HMRC) to amend your tax code

Example You donate £100 to charity – they claim Gift Aid to make your donation £125. You pay 40% tax so you can personally claim back £25.00 (£125 x 20%).

With Payroll Giving, you don’t pay the difference between the higher and basic rate of tax on your donation.

Getting tax relief sooner

In your Self Assessment tax return, you normally only report things from the previous tax year.

But for Gift Aid, you can also claim tax relief on donations you make in the current tax year (up to the date you send your return) if you either:

• want tax relief sooner
• won’t pay higher rate tax in current year, but you did in the previous year

You can’t do this if:

• you miss the deadline (31 January if you file online)
• your donations don’t qualify for Gift Aid – your donations from both tax years together must not be more than 4 times what you paid in tax in the previous year

If you don’t have to send a tax return, contact HMRC and ask for a P810 form. You’ll need to submit it by 31 January after the end of the previous tax year.

https://www.gov.uk/donating-to-charity/gift-aid

So if you want to donate now (before the end of the tax year) you could claim back tax by carrying it back into the previous tax year.

In business having the right contacts and partnerships will mean the difference between success and failure.

Together we are much stronger than we are on our own and can achieve far more.

Common Goals

Working with other organisations that share common goals will make it easier to achieve your objectives. At BCTC we want to make Bournemouth a dynamic forward thinking business community where we help each other to thrive and provide support and help to businesses that need it.

Grow your contacts and customer base

Partnerships are about sharing and networking, the more opportunities you have to meet new clients the better your chances of success will be, that’s why the partnership between AFC Business and BCTC is important. We both want you to have opportunities to grow and between us have thousands of business contacts.

Partnerships help to strengthen your business

We can’t all be good at everything, in fact most business owners have very specific skills generally related to their product or service. We need business partners to help us do the things that we can’t do.

Can you honestly say you don’t need help and you have skills covering Sales, Marketing, HR, Finance, Accounting, IT, Legal. Only large businesses have the scale to bring these in house, most business need to outsource and that’s when you need strategic partners. We can help you find those partners from the local business community.

Finding Partners

The best way to find partners is to network, Bournemouth Chamber have around 30 networking events a year, we would love to see you at an event and we can introduce you to businesses that would be your perfect partner.

Its often ‘not what you know but who you know’ but networking is scary for most people and speaking is even worse.

When you start a business, you normally have a skill but new business owners often lack confidence in telling potential clients about their abilities.

It often doesn’t feel comfortable to explain the brilliant skills you have.

So here are somethings you can do to make it less scary:

• Introduce yourself – it’s one of the best possible and most obvious ice breakers – just go up to people and say ‘Hi, I am …. and I am a …..’ and ask them what they do
• Give examples in a mini story format – how do your skills or products benefit people, why do they need your services? You don’t have to name names, just explain in general terms how you help businesses and clients
• Why do you love what you do? Start Up Business Owners are always passionate about their business so be passionate when you meet people at networking event, its infectious
• Smile – being happy will make it easier to make new contacts and win business
• Work the event with your contacts – when you see people you know talk to them and ask them to introduce you to their contacts
• Watch out for Body Language – 93% of communication is none verbal so don’t cross your arms and do maintain strong eye contact (but don’t get too carried away!)
• Do things that make you feel confident – so dress appropriately, think about who you might meet and what you want to say
• Think positive thoughts – imagine how networking is going to make your business a success

Remember you are Good Enough! You have the skills to be successful and networking will be your key to success.

Is this what your clients think when they see your picture on social media!

It might seem like harmless fun to post a profile photo from your holiday snaps but what impression does it give? Using a photo taken at a wedding or on holiday with a glass of wine in your hand, or one taken 20 years ago, maybe sending out the wrong message and cost you thousands in lost opportunities.

Linked In is particularly important for business

So what makes a good profile picture?

Business Image

The photo should show you ready for business. Dressed as you would to meet client.

Depending on what you do that might mean a business suit or it could be a uniform, often in the creative industries people wear casual clothes.

So wear what you would wear to work.

Up to date

It might be tempting to use an old favourite photo of yourself, but will people recognise you?

How often do we meet a new client or supplier and they look nothing like their profile picture!

Professional Photos

Selfies often don’t work, professional photos are much better. A professional photographer will line the shot up properly and make it look as good as possible. Your face should take up 60% of the frame.

Expressions Count

Smiles are good but try to look professional, definitely don’t try to pull a funny face!

Backgrounds

Try to avoid distracting backgrounds, the viewer needs to focus on your picture not what is happening behind you.