Ways to give

Giving with Gift Aid

If you are a UK tax-payer, by using the Gift Aid scheme, Harrow can reclaim £250 from the Inland Revenue for every £1,000 you donate (with the standard tax rate currently at 20%). We reclaim the tax by forwarding details of your gift to the Inland Revenue. If you are a higher-rate taxpayer, tax can also be reclaimed by yourself as follows:

a) Taxpayers at 40%: the HMRC will increase your tax-free allowance by the difference between 20% and 40%. For a donation of £1,000, this is a saving of £250, thus reducing the net cost of your gift to £750.

b) Taxpayers at 45%: the HMRC will increase your tax-free allowance by the difference between 20% and 45%. For a donation of £1,000, this is a saving of £312.50, thus reducing the net cost of your gift to £687.50.

To claim your tax-free allowance, simply enter details of your donations on your tax return. 
For example:

Single Gift     

Net cost to Donor (taxpayer at 40%) 

Net cost to Donor (taxpayer at 45%) 

Gross value to Harrow 

£1,000

£750

£687.50

£1,250

£4,000

£3,000

£2,750

£5,000

£24,000

£18,000

£16,500

£30,000

 

Giving via Charities Aid Foundation (CAF) and other charitable foundations

Making a donation via CAF enables individuals to reclaim the tax on their gift. The Harrow Development Trust is a registered charity (No. 296097) and welcomes all contributions via CAF.

 

Regular giving

By giving regularly, whether monthly or annually, your regular contribution, added to others, makes a significant difference to the School. In the table below, you can see how the joint efforsts of a number of donors yield a considerable sum of money. 

Donors

Amount

Frequency

Duration

Benefit to School

50

£10

Monthly

5 years

£38,000

100

£200

Annually

5 years

£128,000

 

Corporate Gifts

Companies which make donations to charity can reduce their liability for Corporation Tax through the use of the Gift Aid scheme.

 

Legacies

All bequests to the School are exempt from Inheritance Tax (currently 40%) and a further 4% discount on Inheritance Tax will apply when at least 10% or more of the 'net value' of the estate is left to charity. The threshold for Inheritance Tax is currently £325,000. We are most grateful to donors who make provision in their Will in favour of Harrow and they may count on the same recognition and gratitude as other benefactors.

Call 020 8872 8500 or email devtrust@harrowschool.or.uk to request our guide to Legacy giving.

 

Stocks & Shares

Individuals can obtain a double form of tax relief by donating gifts of shares and securities to Harrow: the value of the gift can be offset against any income tax liability and in addition the gift would be exempt from any liability for capital gains tax.

For a higher-rate taxpayer at 40% who donates £10,000 worth of shares, this will mean a reduction of £4,000 in his Income Tax liability, as well as avoiding any Capital Gains Tax liability, a further saving of £4,000. The reduction is greater for top-rate taxpayers at 45%. It means that shares can be given at a much reduced cost and there may be even a net cash flow gain, if the Income Tax relief is worth more than the shares cost in the first place. Please consult the Harrow Development Trust for more information.

 

Tax Refund Gifts

If you are a UK taxpayer and complete a Self-Assessment tax form, you can use the form to donate to the Harrow Development Trust all or part of any refund due to you. To do this, use the code CAS49MG when completing your Self-Assessment. You can also choose to make your refund a Gift Aid donation.

 

Gifts from USA

Donors who are resident in the United States can qualify for an income tax deduction on gifts made to Harrow. Please contact the Harrow Development Trust for more information on donating to Harrow via the British Schools and Universities Foundation in the United States. Or click here to download the donation form.
If you are a US taxpayer, your donation qualifies under Section 501(c) 3.