Surrey technology makes Gift Aid easier
Giving through Gift Aid when making charitable donations is set to be made a lot easier thanks to a new innovative technology developed by Streeva, in partnership with the University of Surrey.
Gift Aid is a UK government tax relief designed to benefit donors, registered charity organisations and community sports clubs.
The University’s Centre for Cyber Security has been working with Streeva, the creators of Swiftaid – a secure and streamlined way of processing Gift Aid for both charities and UK taxpayers.
Surrey is helping validate Streeva’s methods of embedding tax law within smart contacts and to also validate the linking of full receipt data to payments without needing to change the underlying payments networks.
UK charities miss out on £560 million in tax benefits every year. With just 19 per cent of donations under £10 having Gift Aid attached and cash payments in decline, the ease and security of Swiftaid should help boost charitable donations in the UK.
Professor Steve Schneider, Director of the Surrey Centre for Cyber Security at the University of Surrey, said: “It’s a great opportunity for the charity sector to take full advantage of this new technology in this fast-moving digital age, and we believe that the intuitive nature of Swiftaid will make electronic Gift Aid donations seamless for the user.”
Beth Michael, co-founder of Streeva, added: "It is our mission with Swiftaid to make giving through Gift Aid an effortless experience, getting more money to charities without costing donors more."