Milton Abbey School

• Introduction
• MA Campaign News
• The Development Plan
• Make a Donation
  • Tax Effective Giving
  • Making a Single Gift
  • Making a Regular Gift
  • Gift Card
• Legacies
• Development Office

Tax Effective Giving

There are a number of ways in which you can make a tax-effective gift to the Campaign as outlined below.

Gift Aid

As a registered charity, the Milton Abbey Charitable Foundation can claim Gift Aid from the Inland Revenue on all eligible donations. This means that if you currently pay income tax we are able to claim back the basic rate tax paid on your gift.  Consequently, for every £1 you give, we can claim 25p in Gift Aid, which can significantly increase the size of your gift as illustrated in the Gift Table.

Higher Rate Tax Payers

If you are a higher rate tax payer, you may be entitled to claim back tax relief of the difference between the higher rate of tax at 40% and/or 50% and the basic tax rate of 20% on the total (gross) value of your donation.  For example, if you donate £100 the total value of the donation to the school is £125 (includes Gift Aid).  A 40% tax payer can claim back £25 (£125 x 20%) and a 50% tax payer can claim back £37.50 (£125 x 20% plus £125 x 10%).  This reduces the ‘cost’ to you of the £100 donation you made to £75 and £62.20, respectively.  Examples of these figures are given in the Gift Table.  (Note: you must pay at least as much UK tax as the amount of Income Tax that you are reclaiming.)

Payroll Giving

Payroll Giving allows you to make donations directly from your pay or company/personal pension. The donations are made after your National Insurance contributions are calculated but before Income Tax is worked out and deducted.  Because of this, you only pay tax on the amount left after the donation has been made so you get tax relief on your donation immediately – and at your highest rate of tax.  In these circumstances, the school will not be able to claim Gift Aid on your donation.

Gifts of Shares and Assets

Gifts of shares to the school are free from Capital Gains Tax and individuals can claim Income Tax received on the value of the donated shares. This tax relief applies regardless of the value of the shares.

Please contact the Development Manager, Lindsey Kelly, if you wish to discuss your donation or have any queries about making a gift (01258 880484 or campaign@miltonabbey.co.uk)