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Other ways of Giving

Give as you Earn

Payroll giving is a very tax efficient way of donating – the donation is deducted from the payee’s gross pay before PAYE so they get immediate tax relief at their highest rate of tax.

In English then, it will only cost someone who pays tax at a basic rate of 22% income tax £7.80 in order for us to receive £10.00.

Gifting Shares

This is a spot more complex, but very tax efficient. If a donor who is a 40% taxpayer gives us shares worth £1000, they will get tax relief of £400, meaning that the donation has cost them £600. On top of this the donor is not liable for any capital gains tax even if you have used up your capital gains allowance. All you have to do is sign your shares over to us, and we can either sell them and use the proceeds, or keep them as an investment.

For example, if you give us shares worth (in our dreams) £50,000, which you (in your dreams) originally purchased for £1500, there is no capital gains liability, and the full amount of £50,000 can be deducted from taxable income.

There are more complex ways of giving shares (well, technically selling shares) that we won’t go into here as we’re not professional tax consultants.

Transfer of Assets

Likewise, capital assets can be given to save without you incurring any capital gains or inheritance tax liability.

Gift Aid

This is the simplest way for donors of ensuring we benefit from your donations by allowing us to claim back the basic rate of tax on any donation, whatever the size, from tax payers. Call us on Tel. 020 7253 3500 to request a form.

Legacies

Whether you regard it either as forward thinking or slightly morbid, the fact remains that any sum given to SAVE in a legacy has the advantage of relief from inheritance tax. All you have to do is name us in your will and earmark some funds from your estate.

Charities Aid Foundation

CAF operates a charity card which you can open if you agree to pay a minimum of £10 from your earnings per month into a special account. In return, you receive a 'charity chequebook' and a chartiy card allowing you to make tax free donations whenever. However, it is not an interest bearing account, and there are charges of 4% on sums up to £13,500, and 1% between £13,500 and £74,000.

We hope soon to have an online facility so that CAF payments can be made direct from our website.

Company Giving

If you are in a position to donate this way, the company can make a donation – one off or spread over time, and claim tax relief when working out the profits for corporation tax.

More Information on Giving

The advice above is no substitute for good, solid advice from an independent financial advisor who will be infinitely more clued up as to how these giving schemes work from the tax payers point of view.

All gifts are gratefully received and the assumption is that unless we are specifically told otherwise, they are given in confidence.

All of these incentives are of course very helpful, but the UK still has a long way to go before our regime is anything like that in the US where the financial incentives to giving are clear and simple.

For more information on these methods of giving, contact:

Charities Aid Foundation
01732 520 055
http://www.cafonline.org/

Sharegift
020 7930 3737
www.sharegift.org/