Maximise your donation
To make the most of your gifts to Summer Fields we would like to draw your attention to a number of initiatives which add value to your donations at no additional cost to you.
If you are a UK taxpayer, you can increase the value of your donation by 25% with Gift Aid. Administered by the Inland Revenue, the scheme allows us to claim 25p for every £1 you donate. So, for example, if you donate £20 we can claim an extra £5, making your gift worth £25. Please complete and return the Gift Aid declaration on our donation form.
To qualify for Gift Aid, what you pay in income tax or capital gains tax must at least equal the amount we will claim in the tax year.
If you pay tax above the basic 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
To learn more about Gift Aid please visit the HMRC website
Gift of shares
A gift of shares can be a highly tax effective way of supporting Summer Fields as it may be possible for you to make a substantial tax saving, not only on capital gains tax, but on income tax as well.
Please note that Summer Fields is unable to give financial advice, so please seek professional advice and contact HMRC for information.
Payroll Giving (also known as Give As You Earn) allows employees to donate tax-free to charities through their pay. The donation is taken from their pre-tax salary so part of the donation comes from money that would otherwise go to HMRC.
Payroll Giving is the most tax-efficient way to give to charity - and is the only way a 40% or 50% rate taxpayer can donate their full tax on a donation (unlike Gift Aid, which is only ever a standard tax-free donation).
Matched Giving is when an organisation matches the amount an employee donates to a charity.
The level of Matched Giving depends on your company’s policy, as does the upper limit of amount raised.
A gift in your will
gifts of real property
From April 2002, gifts of property, i.e. land and buildings, have been given relief from income tax in a similar way to gifts of shares. The donor deducts the full market value of the property, less anything received in return, from their income for tax purposes.
Please note that none of the above content constitutes tax advice and is a generic overview of options for donors, if you are unsure of any tax issues that you may have (in particular if you are considering making a significant donation, or if your tax affairs are at all complex) seek professional advice.