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2024

Summer Fields Oxford

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Tax Efficient Giving

To make the most of your gifts to Summer Fields we would like to draw your attention to a number of tax-efficient initiatives.

HONG KONG TAX PAYERS

Hong Kong Tax Payers can make tax-efficient donations to Summer Fields via the Hong Kong Foundations for Charities (HKFC).                                                                                                                                                                                                                                                                                                                                                                                The HKFC allows donors who reside in Hong Kong to make donations to organisations outside of Hong Kong in a tax-efficient manner, as they are able to issue gift receipts for Hong Kong tax purposes.   Donations are accepted in the following currencies; HKD, GBP, AUSD, CAND, USD. 

Wire Transfer
Please fill in the Hong Kong Foundation for charities wire transfer form and the wire transfer details will be emailed to you.  Please note you should fill in this form each time you donate by wire to ensure you receive HKFC's most up-to-date bank details and so that your gift can be matched with the organisation you wish to support.

Online
Online donations may be made via the Hong Kong Foundation for charities online donation form  You can set up monthly or annual recurring donations when donating online.  Please notify the development team at Summer Fields that you are setting up a recurring donation.

Please select SUMMER FIELDS SCHOOL TRUST LTD from the drop-down list so HKFC can ensure the funds reach the school. Donations are processed via Stripe, and are subject to external processing fees of 4.0% HK$2.35 per donation (American Express fees may vary).  You can choose to cover these costs, if you wish.                                                                                                                                                                                                                  Cheque donations should be made payable to the HONG KONG FOUNDATION FOR CHARITIES LTD. and sent to:
Chapel & York Hong Kong Foundation
Unit 8, 19/F, Queen's Centre, 58-64 Queen's Road East
Wanchai, Hong Kong. 
                                                                                                                                                                  To allocate the donation correctly, please include a completed 'Offline Donation Form'.                         

US TAXPAYERS

US Tax Payers can make tax-efficient donations via the British Schools and Universities Foundation (BSUF).

By printing and completing the below gift form, you can express your preference for the support of Summer Fields School.

BSUF is a charitable organisation founded more than 40 years ago to enable US residents to support British schools and universities in a tax-efficient manner and represents more than 200 schools and universities in the UK. 

BSUF is recognised by the US Internal Revenue Service under section 501(c)(3) of its codes.  Summer Fields is a member of BSUF.

Your cheque should be made payable to: The British Schools and Universities Foundation.

Please send the printed gift form, together with your payment to:

     British Schools and Universities Foundation

     641 Lexington Avenue, 15th Floor

     New York, NY 10022-4503

Alternatively, if you want to pay via bank transfer, please contact the BSUF.

For full details of how to make a donation from the US, please visit BSUF.

UK Tax PAYERS

If you are a UK taxpayer, you can increase the value of your donation by 25% with Gift Aid. Administered by the Inland Revenue, the scheme allows us to claim 25p for every £1 you donate.  So, for example, if you donate £20 we can claim an extra £5, making your gift worth £25. Please complete and return the Gift Aid declaration on our donation form.

To qualify for Gift Aid, what you pay in income tax or capital gains tax must at least equal the amount we will claim in the tax year.

If you pay tax above the basic rate, you can claim the difference between the rate you pay and basic rate on your donation.  Do this either:

To learn more about Gift Aid please visit the  HMRC website

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Gift of shares

A gift of shares can be a highly tax effective way of supporting Summer Fields as it may be possible for you to make a substantial tax saving, not only on capital gains tax, but on income tax as well.ordion content  

Please note that Summer Fields is unable to give financial advice, so please seek professional advice and contact HMRC for information.

payroll giving

Payroll Giving (also known as Give As You Earn) allows employees to donate tax-free to charities through their pay. The donation is taken from their pre-tax salary so part of the donation comes from money that would otherwise go to HMRC.

Payroll Giving is the most tax-efficient way to give to charity - and is the only way a 40% or 50% rate taxpayer can donate their full tax on a donation (unlike Gift Aid, which is only ever a standard tax-free donation).

matched giving

Matched Giving is when an organisation matches the amount an employee donates to a charity.

The level of Matched Giving depends on your company’s policy, as does the upper limit of amount raised.

A gift in your will

If you intend to leave a gift in your will to Summer Fields, or indeed have already done so, you are eligible for membership to the Maclaren Society.  Please contact the Development Office for further information.  

gifts of real property

From April 2002, gifts of property, i.e. land and buildings, have been given relief from income tax in a similar way to gifts of shares.  The donor deducts the full market value of the property, less anything received in return, from their income for tax purposes.

 

Please note that none of the above content constitutes tax advice and is a generic overview of options for donors, if you are unsure of any tax issues that you may have (in particular if you are considering making a significant donation, or if your tax affairs are at all complex) seek professional advice.