MK Snap is delighted to be the chosen charity for many businesses. If you would like to fundraise for MK Snap please get in touch with us for support, help or information on 01908 690330 or email: email@example.com
Making A Donation
How your money can change lives
It is good to know that there are ways to put your hard earned money to the best use possible, whilst reducing the tax that you pay and helping MK Snap in the process.
Of course everyone’s circumstances are individual so you should always take qualified advice when it comes to tax, but the following opportunities to donate to MK Snap tax efficiently are worth considering.
Gift Aid increases the value of your donation by allowing us to reclaim basic rate tax on your gift. So if you donate £50 to MK Snap, it is actually worth £60 to us. That extra £10 can go a long way, at no cost to you.
If you are a higher rate tax payer you can claim extra tax relief on your donations: a £100 donation is worth £125 to us, but costs you only £75.
If you claim age-related allowances or tax credits, Gift Aid donations can sometimes increase your entitlement.
You can even carry back this financial year’s Gift Aid donations to last year.
Provided that you have paid Income Tax and/or Capital Gains Tax that is at least equal to your donation in the tax year in which you donate, you can help MK SNAP even more by using Gift Aid.
There is a short form to fill out for HMRC, if you email firstname.lastname@example.org we will send you one.
If you would like to make a donation to MK Snap, please contact 01908 690330
Payroll giving: Give As You Earn
For businesses that administer PAYE, running a Payroll Giving Scheme enables your employees to donate tax efficiently to MK Snap directly from their pay.
Donations are made before Income Tax is deducted, so employees only pay tax on what is left. They benefit because they get immediate tax relief on their donations, at their highest rate of tax. So a basic rate income tax payer’s donation of £20 a month costs them only £16. For a higher rate income tax payer their £20 monthly donation costs them only £12.
For your employees to maximise their donations in this way all you need to do is register a Payroll Giving Scheme with HMRC. There are more details of how to do this on HMRC’s website.
If you are an employee and would like your organisation to set up a Payroll Giving Scheme then we will happily lend our support: please contact 01908 690330
You can leave a lasting legacy that changes lives, even after you have gone. And better yet, you can do it while you save tax.
If you leave a gift for MK Snap in your will, it will be deducted from the value of your estate and will not be liable to Inheritance Tax. In addition, any gifts that you make to MK Snap in the seven years before your death will also be exempt from Inheritance Tax. So coupling regular Gift Aid or Payroll Giving with a gift to us in your will can be extremely advantageous to you and your loved ones and also to MK Snap.
If you do not have a will, then you really should think about having one. Even if you already do, it is straightforward to add a gift to MK Snap using what is known as a codicil. Your solicitor can help, but to make things easier we have suggested wording for different types of gifts in a new will [here] or for a codicil to your existing will.
Alternatively we have donors and supporters from local law firms who may be able to help you with inheritance planning and preparing your will for you.