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How to Support the Foundation There are a number of ways in which donors can support the Cranleigh Foundation and these are set out in the sections below. Further details on gift examples (with explanations of tax benefits) can be supplied by the Foundation Office. foundation@cranleigh.org
Gift Aid As a UK taxpayer, if you make a Gift Aid donation, there are huge tax benefits for the Foundation and, very often, for the donor.
For every pound you donate to the Foundation, we can claim an extra 28p via tax relief from the Inland Revenue at no extra cost to you. As an example, if you give £100, we can claim an additional £28 from the Inland Revenue, making your gift worth £128 to the Foundation.
If you are a basic rate taxpayer, there are no direct tax benefits to you. However, if you are a higher rate taxpayer you can reclaim for yourself a further 23p in the pound when you submit your annual tax return.
The Foundation Office will help provide a full understanding of tax benefits for any Gift Aid donations. Please go to www.cafonline.org for our on-line and 100% secure pledging facility.
Gifts of Shares or Securities This can be the most tax-efficient method from the perspective of the donor.
Gifts of shares or securities provide income tax relief of 100% of their present market value, with donors able to claim the entire current market value of the shares against income tax relief at their highest rate of tax. Also, any gifted shares or securities do not incur Capital Gains liability for either the donor or the Foundation.
The Foundation Office can provide advice, worked examples and all relevant forms to support this most tax-effective means of supporting the Foundation.
Transfer of Assets Benefactors can provide gifts to the Foundation in the form of capital assets. Typical examples might be property, antiques, art works or other objects of value. Assets transferred to the Foundation can be made without the donor incurring any Capital Gains or Inheritance Tax. The Foundation benefits from any transferred assets without the need to pay tax if the value of the asset is subsequently realised.
Legacies Donations can be made by making provisions for a legacy in a Will. All such bequests to the Foundation are exempt from Inheritance Tax (which is typically 40%). The School and Foundation are extremely grateful for any legacies and welcome benefactors with considerable gratitude and recognition.
Company Donations We are especially grateful to companies who make donations to the Foundation. Tax relief from Corporation Tax can, of course, be claimed on any such donation.
The School and the Foundation are keen to foster fruitful partnerships with a variety of companies, whether London-based, local or elsewhere. The School aims to establish 'win-win' relationships with companies in the form of mutually beneficial work experience and other pupil placements.
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