Maximising Your Donation

We think it’s important that you understand the most effective ways of making a donation to Spitalfields Music, to make your gift go the furthest it possibly can and make the most difference. There are several government schemes to encourage and enable you to support us.

 

Gift Aid

If you’re a UK taxpayer, for every £1 you donate to us we can claim 25p in Gift Aid. All you need to do is tick a box when you make your donation, we’ll do the rest and turn a £100 gift into £125.

 

Payroll giving

If, like most of us, you’re paid by PAYE then you can give through Payroll Giving. These donations are taken directly from your Gross pay, i.e. before you’re taxed, so it’s cheaper to make your donation. For example, a donation of £5 per month to Spitalfields Music would cost a basic rate tax payer just £4 (the taxman pays the rest!). If you’re a high rate tax payer, it only costs you £3. If you’d like to sign up, just ask your employer for a Payroll Giving application form.

 

Giving stocks and shares

Donating shares to Spitalfields Music might be hugely beneficial to you (and to us!). Gifts of shares qualify for tax relief equal to the value of the shares. So if you are a high rate tax payer and you donate shares to Spitalfields Music worth £1,000 that would reduce your income tax by up to £500. What’s more, you wouldn’t owe any Capital Gains Tax on any increase in the value of the shares since you bought them.

 

Inheritance tax

If you remember Spitalfields Music in your will through our legacy programme, this donation will exempt from Inheritance Tax. Also the government provides a further incentive when you leave 10 per cent or more of your net estate to charity.

 

Corporation tax

Donations from companies are not eligible for Gift Aid, but if your company would like to treat the gift as an allowable expense, you’ll make a saving on corporation tax. Alternatively you could become a Corporate Partner of Spitalfields Music [LINK] and get access to all sorts of branding and client entertainment benefits.

 

Contact

To discuss any of these ways of giving, or anything else about making a donation to Spitalfields Music, please contact our Development Manager at lydia@spitalfieldsmusic.org.uk