Tax Efficient Giving

TAX EFFICIENT GIVING TO THE LATYMER FOUNDATION

Tax efficient giving helps you to maximise the impact of your donation to the Latymer Foundation. Your gift can often be enhanced by a variety of tax breaks for charitable action both in the UK and abroad. The benefits listed below will depend upon personal circumstances; clarification of UK tax breaks may be found on the Inland Revenue website. In addition, guidance from a qualified financial adviser is recommended.

  • If you are a UK taxpayer, you can increase the value of your donation simply by signing a Gift Aid declaration form allowing the Foundation to reclaim the basic rate of tax on your gift (25p for every £1 you give). 
  • As a higher rate tax payer you can claim additional tax benefits for donations you make to the Foundation, which you can keep or even pass on to any charitable organisation. Simply indicate how much you have donated when completing your tax self-assessment form. 
  • By transferring shares to the Latymer Foundation your gift will attract income tax relief (at your highest marginal rate) and exemption from capital gains tax.
There are two elements: income tax relief and exemption from capital gains tax. Gifts of shares qualify for income tax relief (at your highest marginal rate) equal to the market value of the investments on the day the gift is made, including associated costs such as broker fees. Tax relief can be claimed for the year in which the gift is made. The tax benefits you may be entitled to will depend on your personal circumstances. You should always seek advice from your tax adviser: the Inland Revenue may be a useful starting point. To find out how to donate your shares contact Amanda Scott in the Development Office at Latymer Upper School on 020 3004 0465 to inform her of the name of the asset, the number of shares or units to be donated, and the approximate gift amount. You should also inform Amanda as to whether you hold the stock certificates or if the transfer will be done electronically. Once this has been established, Smith & Williamson, who are Latymer’s brokers, will be in touch with your stockbrokers to arrange the transfer.
  • Your employer may run a matched giving scheme which will match your gifts to charity. Each scheme is different but some companies match their employees’ gifts pound for pound. Please check with your Human Resources department for more information.
  • If you are a US taxpayer working in London, you can donate through the CAF American Donor Fund in favour of “Latymer Foundation at Hammersmith”, registered charity number 312714. It is possible to take advantage of tax relief benefits in both the UK and the US via the CAF American Donor Fund. Please see www.cafonline.org/americandonorfund for details of how to make a gift. Do not forget to state that your interest is in giving to the “Latymer Foundation at Hammersmith”.
  • As a registered charity, a legacy to the Latymer Foundation is free of inheritance tax so your gift will reduce the amount of your estate liable for tax. Since April 2012, estates that include charitable legacies of at least 10% of the net estate benefit from a 36% rate of IHT (compared with the main rate of 40%). For further information on Legacies follow the link below.

Latymer Foundation at Hammersmith
Registered Charity No. 312714

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