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Tax-Effective Giving

Gift Aid

If you are a UK taxpayer, all donations made to the Classical Opera will be eligible for Gift Aid. By agreeing to donate under Gift Aid, Classical Opera receives an extra 25p for every £1 that you give. This makes a huge difference and makes your donation go further, so if you are a UK tax payer please tick the Gift Aid box when making a donation, sign the Gift Aid declaration when returning membership or donation forms, or feel free to ask us to send you a declaration to complete.

As an example, a donation of £10 will give an additional £2.50 to Classical Opera. As a donor if you pay tax at one of the higher rates of tax, 40% or above, you might also be able to claim back an additional £2.50 or more. The Charity receives £12.50 and the cost to a 40% taxpayer is only £7.50.

In order to allow us to claim Gift Aid on your donation, please click, print off and complete the Gift Aid declaration form and include it with your cheque.

European Cross-border donations

Almost all EU countries give tax relief to individuals and institutional donors who donate to a charity/foundation in other EU countries. The definition of what constitutes a charity/foundation for this purpose varies from country to country, although it is likely that Classical Opera qualifies as a charity for ‘the public benefit’ in the legislation of several countries. We  encourage potential donors to go the website of the European Foundation Centre at www.efc.be for further information.

American Donors

You can make tax effective donations by using The CAF American Donor Fund (CAFD), which is a 501(c)(3) public charity. Please click here for a copy of the donation form.

Gifts of shares

Tax relief can be gained on most shares given to charity. So, if £1,000 worth of your shares is donated (and if you are a higher-rate taxpayer), your tax bill will be reduced by £400. In addition, the transaction escapes the charge to Capital Gains Tax.

Payroll giving

A key benefit of payroll giving is that donations are made at income before income tax is applied, so that the donor gets the tax relief immediately on their donation. For basic-rate taxpayers, this means a £20 monthly donation actually costs just £15.60; for 40% higher-rate taxpayers the same donation costs just £12 and for 50% higher-rate taxpayers just £10.

A payroll giving scheme is usually managed by Payroll Giving Agencies who charge an administrative fee and who run this on behalf of employers. Please check with your employer to see if you have a scheme. Employees are allowed to nominate any charity they like to receive the donation – they are not restricted to their employer’s choice of charity.

If you would like to discuss any of the above points, or arrange a donation to Classical Opera, please contact us on 0208 846 9744 or email victoria@classicalopera.co.uk.