There are so many ways to give a donation to INTERIM:
Gifts in kind/in-kind donations
Donating a gift in kind can showcase your company’s products or services whilst also raising vital funds for us. Goods and services can make fantastic prizes for fundraising raffles and auctions.
Gifts in kind, also referred to as in-kind donations, is a kind of charitable giving in which, instead of giving money to buy needed goods and services, the goods and services themselves are given. Gifts in kind are distinguished from gifts of cash or stock. Examples of in-kind gifts include goods such as food, furniture, office equipment, and building materials. Performance of some kinds of services, such as building a centre, providing office space, or offering administrative support, may also be counted as in-kind gifts.
Corporate Donations/ Gifts of Stock
Your company can give shares, donate investments that will earn dividends for us, or securities, such as bonds. There are considerable tax advantages involved with giving money or other forms of support to the charity.
Giving Shares, Land or Property
Donate shares... Capital Gains Tax does not apply to charitable gifts of shares. On top of this, your company benefits from Income Tax relief on shares donated to the charity.
There are significant tax benefits available for donating shares to INTERIM and Capital Gains Tax does not apply to charitable gifts of shares either. On top of this, your company benefits from Income Tax relief on shares donated to the charity.
You will receive tax relief for gifts of land or buildings to INTERIM. Companies can claim corporation tax relief for gifts of recognised shares (other than those in own company), land and property made to the charity. The company can also claim relief if the gift is sold to the charity at less than the market value.
Shares which qualify for relief are the same as those which qualify when they are given by individuals, subject to one exception - a company cannot give its own shares. HMRC have a list of recognised markets from which donated shares will be eligible for the relief.
The tax relief works in the same way as for individuals. Companies get the relief in addition to exemption from any capital gains made on gifts. Companies should deduct the amount while working out their company profits in the accounting period in which the gift is made.
When gifts are made by self-employed people or by partners in a partnership, the deduction is calculated in the same way as for individuals.
Sponsor an event for us!
As a company you can get a tax deduction for payments to sponsor our charitable activities if they are also made for the purpose of the company.
Sponsorship is a two-way street between us and you. INTERIM gets help with the expenses of the event; and you, the company get exposure, low-cost marketing, and good will.
All you as a taxpayer have to do, is refer to the Gift Aid Explained and complete a Gift Aid Declaration Form instructing the charity to claim your tax back from HMRC (Higher rate taxpayers include details of donations in your tax return). The declaration can be completed orally or in writing and one declaration can cover a single gift or a series of donations over a specific period.
For every £1 donated by a tax payer INTERIM can claim 28p from HMRC.
Giving by businesses
If you are self-employed and want to Gift Aid a donation the charity will handle the gift in the same way as a donation from an individual.
If the company is a partnership, a Gift Aid donation will be treated as separate donations of equal amounts from each of the individual partners, unless the partnership decides to split it in a different way.
The tax position for both the charity and donors is the same as for Gift Aid.
Unless one partner has a power under the partnership agreement to make a Gift Aid declaration on behalf of the partnership, we will need a Gift Aid declaration from each partner.
This can be done on one declaration form, provided it includes each partner's details.
The charity benefits substantially from the expertise provided by volunteers or staff seconded from companies.
Where a company provides an employee to work or volunteer for the charity on secondment or a temporary basis, the company can continue to deduct the costs of the employment, including the employee's salary for tax purposes. This applies to sole traders, trading partnerships and companies with a trading or investment business.
Payroll Giving is a scheme that enables employees to give to the charity straight from their gross salary before tax is deducted, and to receive immediate tax relief of up to £5 for every £10 donated. The costs of setting up a scheme and the modest ongoing costs of running a scheme are deductible for tax purposes.
A legacy gift is a planned future donation to the charity, given through a will or other form of designation. Legacy gifts to the charity are completely free of Inheritance Tax. A legacy is deducted from your estate before calculating any inheritance tax that may be due. In addition, as there is no upper limit, you can be as generous as you like, safe in the knowledge that your legacy will not be taxed.
There are many different types of legacy but the two main ones are:
RESIDUARY: a proportion of your estate. For example, if you donated the remaining value of your assets after you have provided for friends and family, this would be known as residual legacy.
PECUNIARY: a specific amount of money. For example, if you wanted to donate £10,000 to INTERIM, this would be called a pecuniary legacy.
Pro bono work
Pro bono work is a great way of ‘showcasing’ your expertise while providing INTERIM with professional work undertaken voluntarily and without payment or at a reduced fee.
Pay Roll giving
A way for employees to give to the charity out of their gross pay each month, and get tax relief.
Payroll donation schemes enable employees to give directly from their salary.
Employers who make Payroll Giving available to their employees will receive a Payroll Giving Quality Mark and can achieve Bronze, Silver and Gold Awards for increasing levels of participation.
Payroll Giving enables donors to make regular charitable donations straight from their gross salary each month before tax has been deducted. Therefore the amount of Income Tax paid is reduced. This means that, for a basic rate taxpayer giving a £10 donation it will only cost £7.80 or just £6 for higher rate taxpayers.
To set up Payroll Giving, employers simply sign up with an approved Payroll Giving Agency (PGA) that will distribute donations to the chosen charity. Donors complete a mandate instructing their employer to make the deduction pre-tax and that sum is sent to the PGA for distribution. (We have a list of PGA’s)
Providing matching for your employees’ charitable activities is a great way to increase employee engagement, by showing support for the charities they care about. You just match the amount of the donation being given by the employee. It is simple to set up, easy to administer and can be customised to suit your matching criteria.
Company funds used for Employer Matching are tax-effective and can be deducted from your organisation’s corporation tax.
Does not just relate to the amount of a donation but can include volunteering time or transferring skills and attitudes from you the for-profit, to us the non-profit, to maximise the impact of your donation.
There is a trend towards involvement and ‘giving while living’, rather than endowing the charity in perpetuity or using the principles of venture capital, with the investee (the charity) receiving management support, specialist expertise and financial resources, aiming for a social, rather than financial, return.
Everyclick also known as Give as you Live
Over 4,000+ online retailers. A percentage of every purchase is donated to the charity, without costing INTERIM, or you the shopper, a penny extra.
If you sign up to Give as you Live to support INTERIM, each time you shop online at supported retailers a commission is paid to Give as you Live by the retailer, which Give as you Live shares with INTERIM.
Ebay for Charity
You can give to the charity when you sell on eBay. You the seller, can donate between 10% and 100% of each item's sale price to the charity. PayPal Giving Fund will collect the donation from you, claim Gift Aid (if eligible) and pass 100% of the money on to us.
A reserve of money that can only be used for specific purposes. Restricted funds provide reassurance to you as a donor, that your contributions will be used in the manner you have chosen.
You can specify whether the gift is:
- unrestricted and can be used for any purpose we see fit,
- temporarily restricted, to be used for a certain purpose,
- or permanently restricted so that the donation acts as principal on which interest can be earned (and only the interest is to be spent).
Often endowments are considered restricted funds. Their principal usually cannot be spent at all, and only a specified percent of the interest they earn can be spent per year. Furthermore, there are restrictions on how the interest can be spent - it may be used only to fund our scholarships and grants, for example.