Tax efficient giving
The tax system allows donors to maximise their gifts in a number of ways:
Gift Aid & Tax Relief
As a recognised charity, all gifts made by UK taxpayers to The King Edward's School Birmingham Trust can be augmented by Gift Aid, which increases the value of your gift by 25%, at no extra cost to you.
To qualify for Gift Aid, you must pay an amount of UK Income Tax and/or Capital Gains Tax at least equal to the tax that the Trust will reclaim on your donations in the appropriate tax year (which runs from 6th April one year to 5th April the next).
To ensure that we can claim Gift Aid on your gift, you simply need to sign the declaration on the donation form or tick the box online when making a gift.
If you pay tax above the basic rate, you can also claim back the difference between the rate you pay and the basic rate on your donation.
For example:
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Assuming the basic rate is 20% and you are a higher rate taxpayer: You donate £1,000 to The KES Trust, and we claim Gift Aid, thereby increasing your donation to £1,250. You pay 40% tax, so you can personally claim back 20% of the value of your donation. £1,250 x 20% = £250 tax relief. Your gift of £1,250 to The KES Trust would cost you £750. |
Self Assessment
If you complete a Self Assessment tax return and are entitled to a tax refund, you can choose to have all or part of this repayment given to the Trust.
To nominate the Trust to receive all or part of your tax refund, you must enter the Trust's unique identification code (BAU78KG) on your Self Assessment tax return.
For more information on Gift Aid or tax relief, please visit www.gov.uk.