Tax efficient giving
What is tax efficient giving?
Every penny you donate to The Wildlife Trusts makes a difference for wildlife and wild places. But did you know about the various tax incentives available to generous donors?
Read on to find out more about the opportunities to manage your giving to more efficiently support both The Wildlife Trusts and your bank balance.
Please note The Wildlife Trusts can’t provide any professional advice. If you are considering a tax efficient gift you should consult your accountant or financial advisor.
Gift Aid
Gift Aid is an incredibly important source of income for The Wildlife Trusts, and it doesn't cost our supporters anything extra!
Through the Gift Aid scheme, The Wildlife Trusts can claim an extra 25p for every £1 you give, with no additional cost for you. Ticking the box for Gift Aid if you're able to is a great way to make your donation go even further for wildlife.
UK donors paying a higher rate of income tax can also access tax relief by reclaiming the difference between the basic and highest rate of tax on the gross value of your gift.
To claim this, you can either call HMRC directly to request an amendment to your tax code, or include the claim in your self-assessment tax return.
Capital Gains Tax
If you have a shares portfolio, there's a way that you can potentially reduce the amount of Capital Gains Tax that you pay and support wildlife and wild places at the same time.
Did you know that donating shares is one of the most tax effective ways of giving to charity? If you give HMRC qualifying shares to charity you get Income Tax Relief on the value of the share as well as exemption from Capital Gains Tax.
Donors looking to mitigate against increased tax liability can gift investments that would be subject to Capital Gains Tax if they were sold, to a portfolio held by The Wildlife Trusts. Doing this gets you the benefit of deducting it from your tax liability, whilst The Wildlife Trusts are exempt from paying tax when the portfolio is sold, effectively increasing the value of your donation.
Inheritance Tax
By including a gift in your Will to The Wildlife Trusts, you could reduce the amount of Inheritance Tax that you pay. If you donate 10% or more of your estate to charity through gifts in your Will, this reduces the amount of tax paid on the remainder.
Visit wildlifetrusts.org/legacy to find out more about a gift in your Will for wildlife.
Payroll Giving
More and more employers are offering payroll giving schemes, which allow you to give a percentage of your monthly salary to The Wildlife Trusts and receive tax relief on what you give.
Tax relief varies depending on the rate at which you're taxed. Your employer will be able to give you more information.
Thank you
However you choose to give to The Wildlife Trusts, your support makes a real difference for our precious wildlife.
If you have any questions about tax efficient giving, please get in touch.