Tax efficient giving
The tax system allows donors to maximise their gifts in a number of ways:
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.
Higher rate taxpayers can also claim back 25% of the value of the gift themselves. Furthermore, taxpayers paying the new 50% rate of tax can claim back even more meaning, in effect, that whatever they give is worth double to the Trust. To claim tax relief, enter your gift in the Gift Aid section of your tax return (the Inland Revenue sends a Self Assessment tax return to all higher rate taxpayers each year).
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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 5th 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 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.