The Chancellor, in his pre-budget report (budget due on 17 April 2002), has confirmed that gifts of foreign currency to charities will now also qualify for Gift Aid. Gift Aid allows that if you give money to a charity, they are allowed to add 28p for every pound sterling collected. Therefore, if you donate £1 it is automatically made up to £1.28. This is extremely valuable to any given charity.
Now that foreign currency is also being allowed, it is understandable that many charities are looking to collect as much of the old european foreign currencies as they can - whilst they can still exchange it. So go on, do not leave it lying in a draw, if you have any old foreign currency notes, take them to a local charity and help them.
Contact us if you are not sure where your nearest collection point is for your preferred charity. If you work on behalf of a charity and would like to register your details on the site for collection points, again please contact us.