Tax Efficient Giving

Tonbridge Grammar School is recognised as a charity for UK tax purposes and claims tax relief through the HMRC Gift Aid scheme. In this way, gift aid received over the last four years have increased the value of gifts by over £60,000.

Full details at the HMRC website: http://www.hmrc.gov.uk/charities-donors/index.htm

Individuals

For individuals, the value of your gift is maximised by giving via the HMRC Gift Aid Scheme, through a payroll scheme or pension, by giving assets, or by leaving a gift in your will.

More details here: http://www.hmrc.gov.uk/individuals/giving/basics.htm

Gift Aid Scheme

If you are a UK taxpayer Tonbridge Grammar School receives an additional £25 for every £100 you give. We need a Gift Aid declaration from you and that's all.

If you pay income tax at the higher rates, you will need to include all your Gift Aid contributions on your Self Assessment tax return, or inform your tax office using HMRC form R40, in order to receive the additional tax reliefs due to you.

You can claim the difference between the higher rate of tax 40 and or 45 per cent and the basic rate of tax 20 per cent on the total 'gross' value of your donation.

For example, if you donate £100, the total value of your donation to the charity is £125.

You can claim back:

  • £25 - if you pay tax at 40 per cent (£125 × 20%).  The gift of £100 has cost £75
  • £31.25 - if you pay tax at 45 per cent (£125 × 20%) plus (£125 × 5%). The gift of £100 has cost £68.75

Gift Aid Declaration

By agreeing to the Gift Aid Declaration you consent to Tonbridge Grammar School treating all donations that you have made for the last four years prior to this year and all future donations you make from the date of your declaration until you notify us otherwise, as Gift Aid donations. You confirm that you have paid an amount of UK Income Tax / or Capital Gains Tax at least equal to the tax that Tonbridge Grammar School and all other charities you donate to will reclaim on your donations in the appropriate tax year (6 April on year to 5 April the next). It is your responsibility to pay any difference. Council tax and VAT do not count. Tonbridge Grammar School will reclaim 25p of tax on every £1 donation.

You are under no obligations to make further payments and you can cancel this declaration at any time. Please notify TGS School Fund if you want to cancel your declaration, change your name or home address, or if you no longer pay sufficient UK Income Tax or Capital Gains Tax.

Payroll Giving

Is your employer on our Payroll Giving list (download here) We know of at least 342 companies that run payroll giving schemes and over220 of these, match or even double any donations their employees make to a charity.  

Through Payroll Giving your donation is deducted from your salary before tax. Each £1.00 you give may only cost you 80p, 60p or even 55p if you are a highest rate taxpayer. Your employer will then send your donation to their approved Payroll Giving Agency who will pass it on, plus any matched employer giving, to TGS. The good news for you is that you enjoy the tax-benefit up front and donating to charity via a Payroll Giving scheme, does not have to be reported on a Self-Assessment Tax Return.

If your employer is not on our Payroll Giving list, it does not mean that they do not have matched giving; our list is not yet exhaustive so do please let us know of any updates and additions.  If in doubt, your payroll or HR department will be able to provide you with details.

Please play your part in helping us to take advantage of payroll giving and the generosity of employer matched gifts – if you do, this will mean that any donations you make to us, whether through your monthly School Fund contributions or any one-off donation you make to Play Your Part, will be substantially increased.

Please contact Pippa Blackstone, TGS Director of Development and Alumni pippablackstone@tgs.kent.sch.uk to talk to her about your employer’s Payroll Giving or Matched Giving scheme. You can download the Payroll Giving gift form here Please note: The charity name is Tonbridge Grammar School. You will not find the School listed on the Charity Commission website because TGS is an exempt charity under section 12 Academies Act 2012.

Please seek independent tax advice as necessary and see:  http://www.hmrc.gov.uk/individuals/giving/payroll.htm

http://payrollgivingcentre.com/attachments/Payroll_Giving_Interactive.pdf

Corporate Matched Giving

Is your company one of the companies that helps boost employee charitable donations through a matched giving scheme?  Some will match pound for pound, and others will even double donations made to us by its employees. 

Please see the Payroll Giving List for companies which we understand will match the charitable gifts of their employees and/or run a Payroll Giving scheme.  If your employer is not on the list, it does not mean that they do not have matched giving; our list is not yet exhaustive so do please let us know of any updates and additions.  If in doubt, your payroll or HR department will be able to provide you with details.

Please play your part in helping us to take advantage of payroll giving and the generosity of employer matched gifts – if you do, this will mean that any donations you make to us, whether through your monthly School Fund contributions or any one-off donation you make to Play Your Part, will be substantially increased. 

Please contact Pippa Blackstone, TGS Development and Alumni office, pippablackstone@tgs.kent.sch.uk to tell her if you would like to take part in your employer’s Payroll Giving or Matched Giving scheme and she will forward you the relevant form.  The charity name is Tonbridge Grammar School. You will not find the School listed on the Charity Commission website because TGS is an exempt charity under section 12 Academies Act 2012.

Leaving a Legacy

Leaving a gift to Tonbridge Grammar School in your will is possibly the greatest gift you can offer during your lifetime and one that will have long-term benefit for the lives of our students. If your estate is liable to Inheritance Tax the value of your gift will be deducted from your estate before Inheritance Tax is calculated. So, you can reduce the amount of tax due by giving money to Tonbridge Grammar School.

And do you know that some gifts made to charity in the seven years before death are exempt from Inheritance Tax? At TGS we are delighted to celebrate Joy's Legacy with its founder member each year. If you would like to join Joy's Legacy, please contact Pippa Blackstone in the Development Office.

Professional legal advice is always recommended when you are drawing up or changing your will. Free advice is also available from Age Concern and Citizens Advice.

http://www.hmrc.gov.uk/individuals/giving/will.htm

Gift Aid Small Donations Scheme

Charitable giving is further encouraged by HMRC through the Gift Aid Small Donations Scheme. "Bucket" collections of cash or notes in support of Tonbridge Grammar School are eligible for gift aid rebate, without the usual donor gift aid declaration. We can raise a further maximum £1250 in this way, on collections up to £5000 each year.

Please look out for the TGS Bucket to deposit your loose change and support Tonbridge Grammar School in this way.

http://www.hmrc.gov.uk/charities/gasds/index.htm?

For Businesses

For businesses, the benefits associated with charitable giving depend on whether you are a sole trader, partnership or a company. The tax reliefs for sole traders and partnerships are through the Gift Aid Scheme. Companies claim corporation tax relief on gifts to charity of money, land, buildings, shares, equipment, trading stocks, and even staff.

http://www.hmrc.gov.uk/businesses/giving/index.htm

If you would like to support Tonbridge Grammar School in this way, please contact Pippa Blackstone in the Development Office.

Sponsorship

The School is grateful to the individuals and businesses who choose to support the School by sponsoring an event or item (s).  If you would like to financially support Tonbridge Grammar School in this way, please get in touch with Pippa Blackstone in the Development Office.

http://www.hmrc.gov.uk/businesses/giving/sponsorship.htm