Ways to make a tax-efficient gift

There are a number of different, tax-efficient ways in which individuals can make a gift to the School.

* Gifts of cash by UK taxpayers
* Gifts of listed shares and securities
* Gifts of property
* Giving via the Charities Aid Foundation
* Payroll giving
* Matching gifts
* Legacies
* Tax-efficient gifts by companies

Gifts of cash by UK taxpayers
The Gift Aid scheme covers all cash donations to the School by UK taxpayers. Under the scheme, the School can recover £28.21 from the Inland Revenue for every £100 donated - at no extra cost to the donor. In addition, donors who are higher-rate taxpayers can reclaim an additional £23.08 on every £100 donated (assuming a basic rate of Income Tax of 22% and a higher rate of 40%).

Regular gifts
Regular gifts can now be made tax-efficiently by UK taxpayers under the Gift Aid scheme. This has replaced the old deed of covenant arrangements, but the tax benefits remain the same. To set up a regular gift, all that is required is a Banker's Order accompanied by a Gift Aid declaration (both forms available on request from the Development Office). Giving by standing order helps to spread payments, which may be made monthly, quarterly or annually, according to preference. The tax benefits of regular giving are significant, both for the donor and for the School

Single gifts
Single gifts of any amount can be made tax-efficiently by individuals who are UK taxpayers, through the Gift Aid scheme. For further information and a Gift Aid declaration form, please contact the Development Office, who will be pleased to assist.

Gifts of listed shares and securities
The School welcomes gifts of listed shares and securities. New measures which came into force in April 2000 make donations of this kind particularly attractive to donors. Gifts of listed shares and securities by UK taxpayers attract full relief from Capital Gains Tax and, in addition, allow the donor to claim Income Tax relief on the full value of the shares or securities at the time they are transferred to the School - a double tax saving. For further information, please contact the Development Office who will be pleased to assist.

Gifts of property
Gifts in kind such as property and possessions avoid any Capital Gains Tax on the donor. To discuss how best to make such gifts, taking account of the particular circumstances of the donor, and how to maximise their value to the School, please contact the Development Manager, who will be pleased to assist.

Giving via the Charities Aid Foundation
Single gifts of any amount can be made by cheque or Charities Aid Foundation (CAF) voucher. Please make all cheques and CAF vouchers payable to Chigwell School Appeal and send them to the Development Office. The School receives no extra tax benefit from gifts made by cheque or CAF voucher.

Payroll giving
Under the Payroll Giving Scheme, employees can authorise their employer to deduct charitable donations from their pay before calculating Pay As You Earn tax. This means that the employee automatically gets tax relief on donations at his or her top rate of tax. There is no limit on the amount that can be given under the scheme. To find out more about payroll giving, please contact your Human Resources or Personnel department.

Matching gifts
Many companies now operate gift-matching schemes. When an employee makes a gift to a registered charity, the company matches this (in full or in part). To find out if your company operates such a scheme, and to obtain a copy of their matching gift form, please contact your Human Resources or Personnel Department.

Legacies
Because Chigwell has charitable status, it pays no tax on legacy gifts. In addition, a legacy to Chigwell may reduce the inheritance tax payable on your estate. When you make or update your will, please consider including a legacy to Chigwell School. Alternatively, you can make a gift by adding a codicil to your existing will. By doing so, you can help to ensure that Chigwell maintains its tradition of excellence for generations to come. The Development Office at Chigwell is happy to talk confidentially to Old Chigwellians and friends of the School who are considering leaving a legacy.

Tax-efficient gifts by companies
When calculating their profits for Corporation Tax purposes, UK companies can get tax relief on gifts of listed shares and securities to Chigwell. UK companies can also make gifts to Chigwell under the Gift Aid scheme. There is no requirement for companies to give the School a Gift Aid declaration. Moreover, companies no longer deduct tax from their Gift Aid donations, but simply pay the School the full donation and claim tax relief when calculating their profits for Corporation Tax.

Thanking you
The School would be delighted to discuss with donors the most appropriate way of recognising a gift.

Contacting the Development Director
Mrs Loredana Morrison
Development Office
Chigwell School
Chigwell, Essex, IG7 6QF
Tel: +44 (0)20 8501 5748
Fax: +44 (0) 20 8502 7922
e-mail: development@chigwell-school.org