How to Give
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You may make a spontaneous DONATION of any amount (small or large) - just send a cheque to Topolski Memoir Ltd, c/o ABL Cultural Consulting, 31 St Martin’s Lane, London WC2N 4ER.
Or your gift can be a PLEDGE monthly or annually over one to three years and be made tax efficiently to maximise the value of the gift to the appeal and to the giver.
If you complete the Gift Aid Declaration on the GIFTAID Form, the Memoir as a registered charity (no. 1103516) will receive rebates from the Inland Revenue equal to the tax payable (at the base rate of 22%) on the grossed-up amount of your gift/s. This is equivalent to 28.2% of your cash gift. There is no minimum giving level to make a donation eligible for Gift Aid, but you must be a UK taxpayer and what you pay in income or capital gains tax must at least be equal to the amount of tax which the Memoir will claim in the tax year.You need only complete the Gift Aid Declaration once, as it will apply to subsequent gifts or gift payments to the Memoir. Gift Aid Declarations may be cancelled at any time.
|For example: If you make a donation of £10,000 by Gift Aid, the Memoir Appeal will receive an extra £2,800 (the amount you have already paid in tax on the gift).Your total gift will be £12,800 but it costs you £10,000.||
Further relief for higher rate tax payers
If you are a higher rate taxpayer, you should enter the amount of your gift on your tax return. Your tax office will then arrange to give you the benefit of the extra tax relief (the difference between the basic rate of 22% and your higher rate of 40% - i.e. 18%.For example: If, as a higher rate taxpayer, you choose to make a donation by Gift Aid of £10,000, your tax relief would be £2,300, resulting in a net cost to you of £7,700.
Charitable Trusts and Foundations
As a registered charity the Topolski Memoir is pleased to accept gifts from charitable trusts and foundations.
Companies can make gross donations to charity and get relief at their corporate tax rate. It is no longer necessary for companies to account to the Inland Revenue for tax relief on donations.For example: If your company is taxed at 20% you should make a donation for the full amount you wish to give, say £25,000 and claim for tax relief of £5,000 on your corporation tax return.
Tax relief on gifts of shares and other assets
If you are a UK taxpayer and make a gift of publicly quoted shares, or other qualifying investments, you would be eligible for income or corporation tax relief on the market value of the shares. This is in addition to the exemption from capital gains on gifts to charities, which extends to other assets such as unquoted shares, property and works of art.For example: If you have a portfolio of 1,000 shares acquired for £15 per share, which is now worth £40 per share, a capital gain of £25,000 has been incurred (£40,000 market value less £15,000 acquisition value). If the shares are sold, capital gains tax of £6,720 would be payable on the capital gain less the threshold for 2004/05 of £8,200 (40% of £16,800).If the shares are given to the charity however, you would be eligible for income tax relief of £16,000 (40% of the value of the shares at the time of transfer) and the Capital Gains Tax is avoided altogether.Thus a gift worth £40,000 to the charity costs you only £17,280 (£40,000 less income tax relief of £16,000 less CGT avoidance of £6,720).
To make a TAX-EFFICIENT gift to the Topolski Memoir Appeal please print and complete the relevant PLEDGE and GIFTAID Form(s)and SEND to the address below. If you are not resident in the UK for tax purposes and wish to establish whether you can make donations through schemes similar to Gift Aid in the UK,e.g. for US citizens via a 501c3 plan, then please write to the address below.
Return to Appeal Plans for Feliks Topolski RA's Memoir