Tax efficient ways of giving to Sevenoaks School
There are several ways in which you can help; most provide tax efficient opportunities for both donor (providing they pay UK tax) and the recipient charity.
The Gift Aid scheme enables Sevenoaks School to reclaim from the Inland Revenue the tax already paid on a personal donation at the rate of 28p for every £1 given. For example, a gift of £1,000 would be worth £1,280 to the School at no extra cost to you. If you are a higher rate tax payer you can currently, through your tax return, reclaim £2.50 for every £10 given (£2.30 for donations made prior to 6th April 2008).
A regular donation using a Bankers Order is another example worth considering: £130 each month for 5 years means the School would benefit to the value of £10,000. The same tax benefits as those detailed above apply for regular giving.
Stocks and Shares can also be donated and allow the donor to benefit from a reduction in tax liability. At Sevenoaks we have an arrangement with ShareGift, who convert the shares on our behalf, and give us the benefit.
Inland Revenue (IR) yearly repayment if as a result of your tax assessment the IR is required to make a payment to you, the IR offers UK tax payers the opportunity to nominate a charity of their choice to receive what may be an unexpected repayment. UK tax payers must quote UAL65GG in Box 19 on the tax return for the school to benefit. For the Acorn fund to receive gift aid on this sum, an additional tick is required at Box 19.
Give as You Earn is a payroll giving scheme enabling you to give directly from your pre-tax salary. The donor benefits because they do not have to pay any tax on the donations they make. If you are a basic taxpayer, a gift of £641.00 will cost you £500.00 Sevenoaks school benefits by knowing there are regular donations coming.
Click on the links below to download donation forms
For further information on any of these methods of giving please contact the Development Office
e-mail jxw@sevenoaksschool.org
Tel.: +44 (0) 1732 467725
Fax: +44 (0) 1732 467725
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