Tax Efficient Donations

Did you know that a donation of £125 can cost you only £75?

Gift aid and higher rate tax payers

If you pay higher rate tax, you can reclaim the difference between the higher rate of tax (40 per cent) and the basic rate of tax (20 per cent) on the total (gross) value of your donation to Solihull Hebrew Congregation.

For example, if you donate £100, the total value of your donation to the charity is £125 – so you can claim back 20 per cent of this (£25) for yourself. You can make this claim on your Self Assessment tax return if you were sent one.

Tax relief can be claimed by completing the relevant section on your Self Assessment Tax Return form. If you don’t complete a self assessment form, but receive Form P810 from the Inland Revenue, this can be used to declare any gift aid payments. Alternatively you can claim the relief by writing to your tax office, giving full details of the gift(s) you have made.

Donating Shares

Making a gift of shares can be a highly tax effective way of supporting Solihull Hebrew Congregation.

By giving shares, it is possible to make a substantial tax saving, not only on capital gains tax, but on income tax as well.

Twelve million people own shares in the UK, worth over £200 billion. This area of giving is often overlooked, but by unlocking your capital and passing it on you can turn it into something of great value to Solihull Hebrew Congregation and substantially lower the cost to yourself at the same time.

In order to qualify for the tax relief, the shares or securities must be listed or dealt on a recognised UK or foreign stock exchange, units in authorised unit trusts, shares in a UK open-ended investment company or holdings in certain foreign collective investment schemes.