Contribution
[ Donation Form (PDF*) | Legacies ]
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Ways of Giving
Giving by cheque - gift aid
A single gift is best made using the Gift Aid method. Informing us that
you wish to use this method of giving enables the Foundation to claim
back the basic rate of tax you have already paid on your money (assuming
you are a UK taxpayer).
Moreover, if you are a higher rate taxpayer, you are able to claim back
the difference between the higher rate you have paid and the basic rate
the Foundation is able to reclaim. The table below shows examples of how
this works, with the right hand column representing the net cost to you
and the central column showing the benefit to the Foundation.
If you wish to make a contribution to the Foundation using this method,
please complete the enclosed donation form and send it to us with your
cheque or credit card details.
You must have paid the amount of tax which we reclaim. This can be in
the form of either income or capital gains tax. If you do not make a Gift
Aid declaration, we may contact you to ask your permission to reclaim
any tax due.
| You give | Foundation receives | Cost to you |
| £100 | £128 | £77 |
| £250 | £321 | £192 |
| £500 | £641 | £385 |
| £1,000 | £1,282 | £769 |
| £5,000 | £6,410 | £3,846 |
| £10,000 | £12,820 | £7,692 |
| £50,000 | £64,100 | £38,460 |
| £100,000 | £128,200 | £76,920 |
Regular giving – standing orders and covenants
The introduction of new Gift Aid regulations means the old system of giving over time through a Deed of Covenant is no longer a necessary complication. Each and every gift that is made to the Foundation can be treated as tax-effective without the need for legally binding documentation.
On the other hand, some donors feel comfortable with Deeds of Covenant, and forms are available from the Foundation Office. Giving regularly remains a vital part of our income. Committed and regular support is the life blood of any fundraising charity and we would not wish the demise of covenants to signal the end of such support.
In order to make this process as easy as possible, you will see that the donation form includes a form of Standing Order. Please return the form to the Foundation Office, not direct to your bank, please.
We will contact you at regular intervals to ensure that you are still happy with the arrangements. In addition, we will send you an annual statement of your contributions to assist you in completing your Inland Revenue self-assessment tax return.
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Giving stocks, shares and securities
This can be one of the most tax-effective methods of supporting the Foundation. Gifts of shares are free of capital gains tax and can also be offset against taxable income, whether you are a higher or basic rate taxpayer. The amount the donor can deduct is the market value of the shares or securities at the date of disposal, plus any incidental costs of disposing of the shares.
The example of a higher rate taxpayer who has already used up his/her capital gains tax allowance for the year illustrates how substantial the saving could be in some circumstances. Shares bought for £200 and rising to a sale value of £1,000 would yield £680 after payment of capital gains tax on the sale. If the same shares were donated to the Foundation, the gift would amount to £1,000, less dealing costs. At the end of the tax year the donor is able to offset the gross amount of £1,000 against income tax liability and receives a rebate of £400. Thus a gift worth £1,000 to the Foundation could cost a donor as little as £280 in net terms.
Tax relief applies to gifts from companies, as well as individuals, whether resident in the UK or not, when calculating income or profits for tax purposes.
Supporters of the Foundation considering making a donation of investments should consult their accountant or financial advisor.
Donating land
Changes announced in the 2002 budget extended the considerable tax advantages available to donors of shares to donors who wish to donate land. This means donors can claim the current value of the land against their highest marginal rate of income tax as well as being free of any capital gains tax on the property.
Legacies
Long-term, legacies will generate the majority of funds needed to keep Blundell’s at the forefront of education in the UK. There is a full explanation of how to include a bequest to Blundell’s in your will on the Legacies page of this Website.
Giving from the USA
There are substantial tax benefits available to US taxpayers by giving to charities and foundations, but such bodies must be recognised by the Internal Revenue Service and based in the USA.
We have set up ‘Friends of Blundell’s in America’ which is a charitable company registered in the USA to ensure that our USA taxpayers retain their tax benefits. Gifts to ‘Friends of Blundell’s in America’ in the form of bequests, legacies, shares and land allow the donor to claim tax relief and the full sum donated can be passed from ‘Friends of Blundell’s in America’ to Blundell’s Foundation. Please contact us for details.
[ Legacies ]
Ways of giving through a legacy are described here. This information is available as a brochure which can be obtained from the Foundation Office.
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