Make your Gift go further
The UK has one of the world’s most favourable regimes for tax-efficient charitable giving. Generous incentives exist for individuals who support charities like the OAE and depending upon your tax position, the cost of making a gift could be under 50% of its value to the OAE.
Donating through Gift Aid means the OAE can claim an extra 25p for every £1 you give, without costing you any extra.
In order for Gift Aid to be claimed the donor must make a Gift Aid declaration. This can be done in writing, by email or verbally. Your donations will qualify as long as they’re not more than 4 times what you have paid in tax in that tax year (6 April to 5 April).
If you pay tax at the higher or additional 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
If your employer, company or personal pension provider runs a Payroll Giving scheme, you can donate straight from your wages or pension. This happens before tax is deducted from your income.
Ask your employer or pension provider if they run a Payroll Giving scheme.
Donating land, property or shares
You don’t have to pay tax on land, property or shares you donate to charity. This includes selling them for less than their market value.
In additiont to this you will also get tax relief on both:
• Income Tax
• Capital Gains Tax
You must keep records of the donation to show that you’ve made the gift or sale and that the charity has accepted it.
Charities Aid Foundation (CAF)
If you wish to make tax-efficient gifts to a number of different charities, you might consider opening an account with the Charities Aid Foundation.
The Charities Aid Foundation can be reached on 01732 520000 or enquiries@CAFonline.org.
US Tax Payers
The OAE is associated with CAF America, a foundation that enables those resident or paying tax in America to donate to charities. If you wish to donate via this foundation please contact Alex Madgwick on firstname.lastname@example.org who will send you further details.