Tax benefits for individuals
Gift Aid allows us to increase the value of donations by 25% - at no extra cost to you. With Gift Aid, a £100 donation becomes £125 - giving us an additional £25 to spend on changing your community for the better.
All you need do is inform us to treat all your donations as Gift Aid donations. We can then claim back from the Inland Revenue the basic tax you have already paid on this money.
High rate taxpayers feel the benefit of Gift Aid in their pockets, too. You can claim relief for the donations you make on your next tax return.
This is how it works: on a donation of £100 we reclaim the basic tax (£25) and you reclaim the extra tax on your tax return. This means your donation will only cost you £75 because you reclaim the extra 20% tax (40%-20%) on the gross value of the donation (£125).
|Gift Aid form|
This is a simple way for you to give regularly from your salary or pension and get tax relief on your gifts. A monthly donation of £20 will cost you £15.60 if youíre a standard rate taxpayer, or £12 if youíre a higher rate taxpayer.
Ask your company about running a payroll giving scheme and electing Quartet Community Foundation as the recipient charity. More information about payroll giving can be found at www.payrollgiving.org.uk.
Giving Shares and Securities
Turn your shares into an investment in your local community. Giving shares and securities attracts very generous tax incentives. If you are a basic rate taxpayer, a gift of shares worth, say, £1,000 could reduce your income tax bill by £220, or by £400 if you are a higher rate taxpayer. Whatís more, thereís no capital gains tax to pay! You can even claim tax relief if you sell shares to us for less than their current market value.
Four good reasons to donate shares:
- You benefit and we benefit as the tax incentives are extremely generous
- If you own shares it is a cost-effective way for you to set up your own charitable fund within Quartet Community Foundation
- If you hold 'windfall' shares that are sitting in a drawer gathering dust they could be put to really good use in your local community
- If you own a small number of shares - perhaps in one or two companies - they could be generating more paperwork than income. You can convert them into something of real value to us.
Leaving a legacy
Itís easy to leave a gift to Quartet Community Foundation in your will. The donation will be tax free and you can leave as much or as little as you want, after youíve provided for family and friends.
The gift is paid before Inheritance Tax is deducted, reducing the total amount of tax paid on your estate. See Leaving a Legacy for more information.