How you can make a real difference
There are many ways in which you can make a real difference to the lives of pupils, now and in the future.
Any donation you make to the Foundation will help enable the Trustees to fund a range of critical needs identified by the School.
This could be to provide a period of boarding accommodation for a pupil in real need, temporarily removing a barrier to their education and personal development at a critical time such as the run-up to GCSEs, A Levels or Vocational Level 3 technical qualifications.
It could be to contribute to a specific school infrastructure project which would benefit many pupils in the School, now and for many years.
The Foundation is registered for Gift Aid, a government scheme that allows us to recla
im the basic rate tax you pay as a UK taxpayer. It means that we can claim 25p of tax for every £1 you donate, at no extra cost to you. All you need to do is complete a simple Gift Aid declaration - further information below.
Gift Aid: How you can increase your donations by 25% free of charge
Donating through Gift Aid means charities such as the Royal Wolverhampton School Foundation can claim an extra 25p for every £1 you give. It will not cost you any extra.
Charities can claim Gift Aid on most donations, but some payments do not qualify.
Fill in a simple form for us to claim Gift Aid
You make a Gift Aid declaration for the charity to claim. You usually do this by filling in a form - Click here to make a donation and set up Gift Aid on it and any future donations.
You must give a declaration to each charity you want to donate to through Gift Aid.
You can include all donations from the last 4 years. Tell the charity about any tax years when you did not pay enough tax to cover the gift aid claim.
Paying enough tax to qualify for Gift Aid?
Your donations will qualify as long as they’re not more than 4 times what you have paid in tax in that tax year (6 April to 5 April).
The tax could have been paid on income or capital gains.
You must tell the charities you support if you stop paying enough tax.
Higher rate taxpayers can claim tax back
If you pay tax above the basic rate, you can claim the difference between the rate you pay and basic rate on your donation. It’s the same if you live in Scotland. Do this either:
- Through your Self Assessment tax return
- By asking HM Revenue and Customs (HMRC) to amend your tax code
Example: You donate £100 to charity - they claim Gift Aid to make your donation £125. You pay 40% tax, so you can personally claim back £25.00 (£125 x 20%).
With Payroll Giving, you do not pay the difference between the higher and basic rate of tax on your donation.
Getting tax relief sooner
In your Self Assessment tax return, you normally only report things from the previous tax year. But for Gift Aid, you can also claim tax relief on donations you make in the current tax year (up to the date you send your return) if you either:
- Want tax relief sooner
- Will not pay higher rate tax in current year, but you did in the previous year
You cannot do this if:
- You miss the deadline (31 January if you file online)
- Your donations do not qualify for Gift Aid - your donations from both tax years together must not be more than 4 times what you paid in tax in the previous year
If you do not have to send a tax return, contact HMRC and ask for a P810 form. You’ll need to submit it by 31 January after the end of the previous tax year.
The above information has been taken from the Government website https://www.gov.uk/donating-to-charity/gift-aid where you can find further guidance. For more information on the Gift Aid scheme and on personal taxation, please visit: www.hmrc.gov.uk/individuals.
You can cancel your declaration at any time simply by getting in touch with us using the website enquiry form on the Contact Us page of this website, or by emailing donating@theroyalschool.foundation.
Click on the pictures below to see how you could help make a real difference to young lives.