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Accountants Back On-line 'Jumble Sale' Fundraiser
Yorkshire accountants Watson Buckle are doing their bit for charity by helping a new fundraising initiative operate in the most financially efficient way.
Internet-based JumbleAID, whose chief executive officer Simon Pailin lives in Halifax, offers users a way to get rid of unwanted goods in a way that helps good causes and has set itself a first year target of raising £1 million.
Formally launched on 1 November, it acts like an on-line jumble sale. “Seekers” who spot an item they like pledge an amount to the “gifter’s” chosen charity, which receives every penny of their donation.
JumbleAID funds its own running costs through corporate sponsorship and affiliate marketing and has some significant supporters. Two of its founding members are Rob Wilmot and Ajaz Ahmed, the team behind Freeserve, the pioneering internet service provider.
Bradford-based Watson Buckle have been involved with JumbleAID from the earliest stages, assisting with the initial formation of the company and finding solutions to challenging tax technicalities. Watson Buckle tax partner John Kinsella, who lives in Ripponden, said: “There are some particularly complex accounting and tax rules around charities, so our expertise was valuable in helping JumbleAID to resolve some potentially very difficult issues.
“It is very satisfying to know that our advice will ensure that donations are treated in the most tax-efficient way, to ensure maximum benefits for many charities.”
The firm also liaised with HM Revenue & Customs to structure the donation process so that Gift Aid – tax relief that charities can claim on donations to increase the amount received – could be applied where appropriate and advised on banking arrangements, involving a ring-fenced account for pledges and donations and another for JumbleAID’s operational side.
Simon Pailin said: “We have very high expectations, with a target of donations up to £1 million in our first year, and eventually in excess of £25 million in subsequent years.
“John is very knowledgeable. He also has a flair for explaining things, which is needed in the convoluted world of tax where things can often go over one’s head – or at least mine! Because of our fledgling status we have needed to network with professionals, which Watson Buckle has helped enormously with. They have introduced us to people who have provided a lot of advice and assistance at no cost.”
JumbleAID also offers benefits to businesses, which can open their own profile and encourage staff to use the site. They can then collate data that represents how much they have collectively prevented from going into landfill, and how much has been raised for charity, and use the figures to illustrate corporate social responsibility activities.
For more information, contact Watson Buckle on 01274 516700.