- Gift Aid: If you’re a UK tax resident, your donation will be eligible for Gift Aid. This means for every £1 you give, we are able to claim an extra 25p at no extra cost to you. If you pay tax above the basic rate, you can claim the difference between the rate you pay and the basic rate on your donation. This means that a donation of £800 would be worth £1,000 to St John’s with Gift Aid, whilst only costing £550 for additional rate (45%) taxpayers or £600 for higher rate (40%) taxpayers. You can nominate your Gift Aid status with all donations via our Enthuse page.
- Gifts of Shares: Did you know that donating shares is one of the most tax-effective ways to give to charity? Giving HMRC qualifying shares to St John’s means you get Income Tax relief on the value of the shares as well as exemption from Capital Gains Tax.
- Payroll Giving: if you’re a PAYE employee, you’re eligible for Payroll Giving. Each month, your charitable donation will be taken from your payroll after National Insurance has been deducted, but before tax, meaning it costs you less to give. This means that if you’re in the 20% tax band, a donation of £10 a month will cost you £8; for those in the higher rate tax band (40%), your £10 donation will cost you £6. We’d advise contacting your employer to enquire if they offer this through your payroll.
- Legacy Gifts and tax: A donation in your will to St John’s can have a significant impact on Inheritance Tax. Either your donation will be taken off the value of your estate before Inheritance Tax is calculated, or if 10% or more of your estate is left to St Johns, your overall Inheritance Tax rate will be reduced.
It’s always best to speak with a qualified financial advisor or accountant about tax implications for your own personal circumstances.
01962 854 226
office@stjohnswinchester.co.uk