We are grateful for all gifts to the Dragon School. Together they provide financial support and encouragement for each member of the Dragon community.
Use our Tax Calculator to see how the Gift Aid scheme could benefit both you and the Dragon School.
Donors who support the Dragon using CAF vouchers or a CAF card are already benefiting from the Gift Aid regulations. Their donations will not be eligible for further tax reclamation by the Dragon.
If you pay higher rate tax, you can claim the difference between the higher rate of tax 40% and/or 45% and the basic rate of tax 20% on the total 'gross' value of your donation. For example, if you donate £100, the total value of your donation to the charity is £125 - so you can claim back from HMRC: £25 - if you pay tax at 40% (£125 × 20%) £31.25 - if you pay tax at 45% (£125 × 20%) plus (£125 × 5%). Find a tax calculator here.
Donating your Tax Repayment
Since April 2004 the Inland Revenue has made it possible for income tax payers to donate all or part of any tax repayment and ask for Gift Aid to apply to their donation. The instructions on how to do this are supplied in the notes accompanying the Self Assessment return. The code number for The Dragon School Trust is MAM63BG. If you are able to help us in this way, thank you.
If your tax status is likely to change between the higher and the basic rate bands, it is worth remembering that any donations made through Gift Aid can be carried back to last year or forward when completing your self-assessment form.
Gift of Shares
A donation of shares to a charity such as the Dragon attracts income tax relief of 100% of their market value and gives rise neither to a gain nor a loss for capital gains tax purposes.
The only requirements to make such a saving are that as a donor you must:
- Claim the tax relief yourself in your tax return
- Be liable to pay the amount of tax deducted (ie the gift can not give rise to a tax credit)
- Give the shares intact to the Dragon (ie not sell them first)
- Give listed shares or securities, units in authorised unit trusts, shares in open-ended investment companies, holdings in foreign collective investment schemes or unlisted shares or securities dealt in on a recognised stock exchange, such as the Alternative Investment Market
Gifts of Real Property
Since 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.
Under the Give as You Earn Scheme, employees can authorise their employers to deduct charitable donations from their payroll before calculating Pay as You Earn tax and then donate them to the charities of their choice. Contact your Human Resources Department to see if your employer participates in this scheme and for further particulars.
Many large companies run matching gift programmes, effectively doubling or even tripling their employees' charitable contributions. Your HR office should be able to tell you if this is the case at your place of business and the Development Office is always happy to fill out any paperwork that might be necessary to confirm that the gift has been received.
Gifts to the Dragon included in your Will are free from inheritance tax, so the gift is deducted from the value of the estate before tax liability is calculated. Donors who choose to make a gift to the Dragon in this way automatically become members of the Skipper Society.