Tax Efficient Giving
To make the most of your gifts to Summer Fields we would like to draw your attention to a number of tax-efficient initiatives.
US Tax Payers can make tax efficient donations via the British Schools and Universities Foundation (BSUF).
By printing and completing the below gift form you can express your preference for the support of Summer Fields School.
BSUF is a charitable organisation founded more than 40 years ago to enable US residents to support British schools and universities in a tax-efficient manner and represents more than 200 schools and universities in the UK.
BSUF is recognised by the US Internal Revenue Service under section 501(c)(3) of its codes. Summer Fields is a member of BSUF.
Your cheque should be made payable to: The British Schools and Universities Foundation.
Please send the printed gift form, together with your payment to:
British Schools and Universities Foundation
575 Madison Avenue, Suite 1006
New York, NY 10022-2511
Alternatively if you want to pay via bank transfer, please contact the BSUF.
For full details of how to make a donation from the US, please visit BSUF.
UK Tax PAYERS
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 websiteAccordion content
Gift of shares
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.