Tax efficient giving
Tax efficient giving helps you to maximise the impact of your donation to the Latymer Foundation
Your gift can often be enhanced by a variety of tax breaks for charitable action both in the UK and abroad. The benefits listed below will depend upon personal circumstances; clarification of UK tax breaks may be found on the Inland Revenue website.
In addition, guidance from a qualified financial adviser is recommended.
- If you are a UK taxpayer, you can increase the value of your donation simply by signing a Gift Aid declaration form allowing the Foundation to reclaim the basic rate of tax on your gift (25p for every £1 you give).
- As a higher rate tax payer you can claim additional tax benefits for donations you make to the Foundation, which you can keep or even pass on to any charitable organisation. Simply indicate how much you have donated when completing your tax self-assessment form.
- By transferring shares to the Latymer Foundation your gift will attract income tax relief (at your highest marginal rate) and exemption from capital gains tax.
Giving Shares: How The Tax Relief Works
- Your employer may run a matched giving scheme which will match your gifts to charity. Each scheme is different but some companies match their employees’ gifts pound for pound. Please check with your Human Resources department for more information.
- If you are a US taxpayer working in London, you can donate through the CAF American Donor Fund in favour of “Latymer Foundation at Hammersmith”, registered charity number 312714. It is possible to take advantage of tax relief benefits in both the UK and the US via the CAF American Donor Fund. Please see www.cafonline.org/americandonorfund for details of how to make a gift. Do not forget to state that your interest is in giving to the “Latymer Foundation at Hammersmith”.
- As a registered charity, a legacy to the Latymer Foundation is free of inheritance tax so your gift will reduce the amount of your estate liable for tax. Since April 2012, estates that include charitable legacies of at least 10% of the net estate benefit from a 36% rate of IHT (compared with the main rate of 40%). Please see the legacies page for further information.
