HiI've cross-posted this in Finance
How do others use the Performance Date on the Gift Aid report? Eg if you are running the report for transactions during July 2023, what would you put as the performance date, given people may be buying tickets some time in advance of their visit/performance? Tessitura have advised us to consider the potential refund situation, which would obviously make the gift aid claim on that ticket ineligible. As a daily admission venue, the majority of our tickets are on the day or close to the day of visit, but some people do buy 3 months or more in advance. Thoughts welcome!
Many thanksBest wishesDawn
Hi Dawn, we don't claim gift aid on performance date, but I would think you want to know the final people who attended, so it would be safest to wait until the performance has matured (and you have your final list of visitors) before you claim the gift aid? Given the majority of your tickets are on the day or close to the day, it shouldn't present you with a problem in terms of cash flow as you'd still be claiming gift aid for the majority of transactions near to their transaction date. And you can claim gift aid up to 4 years after the original gift. We wait until our management accounts have been signed off for the month in question, so never claim gift aid within the first couple of months after a gift - this is to avoid the potential situation of having claimed gift aid on something and then having to return the gift aid to HMRC.