The UK and US governments support charitable giving and offer a series of tax benefits to encourage philanthropy.
All cash donations to Aurora are eligible for Gift Aid. This means that we are able to reclaim the tax on your support at no extra cost to you. This is very important to us as it means we can increase the value of your gift by 25%. For example, with Gift Aid a £100 donation as an Aurora Friend could be worth £125, or a £1,200 gift as an Aurora Patron could be worth £1,500. You just need to be a UK tax payer and pay UK income or capital gains tax to the value we (and any other eligible charities you support) will claim on your donation – 25% of the total value.
Any UK tax payer can agree to Gift Aid, but the scheme can be especially beneficial to higher rate tax payers. If you pay UK income tax at the higher or additional rates, you may be entitled to claim additional tax relief on your donations. This equates to 25p in personal tax relief on every £1 donated, effectively reducing the actual cost of your donations.
You can make a single declaration to cover all past, present and future donations. However, if your circumstances change and you cease to pay tax, or you change your name or private home address, please let us know.
Gifts from the US
We are delighted to receive gifts from our American supporters. For donations of less than $3,200 (but greater than $500), you can make your gift via CAFAmerica, which is registered in the US as a 501(c) (3) tax-exempt organisation.
Please note: CAFAmerica will charge an administrative fee for handling your donation and forwarding it to Aurora (8% of the first $100,000; 4% of the next $200,000; 1% of all funds over $300,000 per donation). Donations of less than $500 will be returned by CAFAmerica to the donor less applicable administrative fees.
Gift of Shares
If you own shares which show a capital gain and/or pay UK income tax at the higher or additional rates, you may find it effective to make a gift of shares to Aurora. As Aurora is a registered charity (number 1155738), the market value of your gift can be offset against your taxable income and no capital gains tax are payable. Your investment manager or broker will be able to advise you of the mechanics of making such a transfer. It is also essential you record evidence of your gift for the Tax Office.
Payroll Giving or Match Giving
If your employer or pension provider runs a matched giving or payroll giving scheme through PAYE, you can make tax efficient gifts to Aurora as pre-tax deductions from your salary or pension. Donations are made after national insurance contributions are calculated, but before income tax is calculated and deducted. This means you do not pay tax on this donated income – immediate tax relief.
You do not have to disclose the name of the recipient charity to your company (as they simply act as a conduit to government-approved giving agencies). Your HR team or pension manager will be able to advise if your employer/provider runs an eligible programme and provide the necessary forms.
Charitable Trust or CAF Voucher
If you donate to a number of charities, you may choose to set up a corporate or personal trust, or an account with CAF (Charities Aid Foundation) or other philanthropic trust. As a registered charity (number 1155738) Aurora Orchestra can accept philanthropic gifts made through such organisations.
For more information about any of the above, or a confidential conversation about giving, please contact Caroline Harris, Director of Development & Strategic Planning on +44 (0)20 7014 2804 or at email@example.com.