Ways to Donate
Bank Transfer within the UK
Sort Code: 40-47-15
Account Number: 00232157
Reference: Your name, donation
Please make payable to ‘Chigwell School’
Payroll and matched giving
Payroll giving / GAYE
Payroll giving (or Give As You Earn) is a scheme which allows anyone who pays UK income tax to give regularly and on a tax free basis. It means that your donation is deducted from your salary before tax so every £1 you give will only cost you 80p, 60p (if you pay higher rate tax) or 50p (if you pay the new top rate of tax). Please contact your Human Resources department to find out if they run the scheme. If they do, they will need the following information:
• Chigwell School
• Address: Chigwell School, High Road, Chigwell, Essex, IG7 6QF
• Chigwell School’s registered number (1115098)
Many companies choose to match the charitable gifts of their employees. The list below is by no means definitive. If your employer is not listed and you would like to find out if they operate a similar scheme, contact your Human Resources department who can provide further information. If your employer is involved in the scheme, please let us know so we can update our list.
Stocks and Shares Giving
Since April 2000 individuals have been able to claim income tax relief on gifts to charity of most stocks and shares, whether resident or non-resident in the UK, when calculating their income or profits for tax purposes. This is in addition to the existing relief from Capital Gains Tax.
To calculate the amount of tax relief, an individual should deduct the value of their donation from their taxable income for the tax year in which the donation is made (a tax year runs from 6 April to 5 April). The amount they can deduct is the market value of the shares on the day of the gift plus any incidental costs of disposing of the shares such as broker’s fees.
Donors can claim relief at their top rate of tax on their Self Assessment or Corporation Tax return.
A donor gives a gift of 2,000 shares in a company, which he bought for £6,000 and now have a market value of £10,000. The broker’s fee, paid by the donor to arrange the transfer is £50. The tax deduction is calculated as follows:
|Original cost of shares||£6,000|
|Current market value of shares||£10,000|
|Deduction against income||£10,050|
Assuming the donor is paying income tax at the higher rate of 40%, their income tax bill will be reduced by (£10,050 @ 40%) £4,020. This effectively means that the donation of £10,000 will actually cost the donor just £6,030 after tax relief (£10,050 – £4,020).
The donor will also save the Capital Gains Tax that should have been paid on the increase in the value of the shares (from £6,000 to £10,000), which is £4,000. The current rate of Capital Gains Tax for individuals who pay above the basic rate of tax is 28%. Therefore, in effect, the donation has only cost them £4,910 (£6,030 – 28% of £4,000), which is less than half of the value of the gift.
Qualifying stocks and shares
The shares that qualify for income tax relief are listed or dealt in on a recognised stock exchange, whether in the UK or elsewhere, including shares traded on the Alternative Investment Market; units in a UK authorised unit trust; shares in a UK open-ended investment company (OEIC); and holdings in certain foreign collective investment schemes (schemes outside the UK that are equivalent to unit trusts and OEICs).
If you are interested in making a gift of stocks or shares to Chigwell School, we would advise you to seek advice from your financial advisor.
Please contact the Development Office for further information.
Leaving a Gift in your Will
Leaving a Legacy to Chigwell School
A legacy to Chigwell School is one of the greatest gifts that can be made and is a lasting testimony to the affection of the donor for the School.
Legacies can be directed to an area of choice or can support all aspects of life at Chigwell by allocating the gift to the area of greatest need. For instance, it may be that the legacy should be used to fund bursaries.
The Development Office would be very happy to suggest appropriate wording for the most common types of legacy. However, we recommend that wording is carefully reviewed by the donor and his/her solicitor in the context of the Will and their personal circumstances.
The 1629 Society
We appreciate that making a bequest to Chigwell is a very personal decision. We understand that and, of course, would guarantee anonymity and respect privacy. However, we hope that those who plan to leave a legacy will inform us of their intentions so that we can thank them for their kindness and generosity during their lifetime.
In order that we can recognise the kindness of those who have remembered Chigwell in their Will, we have founded the 1629 Society, marking the year our School was founded by Archbishop Samuel Harsnett. All those who have made us aware of their intention to include the School in their Will automatically become a member.
US and Canadian residents giving through BSUF
Tax Efficient Giving
Maximise the value of your gift using Gift Aid.
As a recognised charity, all gifts made by UK taxpayers to Chigwell School can be augmented by Gift Aid, which increases the value of your gift by 25% at no extra cost to you.
Please click below to download the Gift Aid and Donation forms: