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Donating Shares to The King’s School Worcester

Did you know that donating shares is one of
the most tax-effective ways to give to charity?

Donating your shares to King’s is not only a valuable way to support the work of the school but you can also make substantial savings in both capital gains tax and income tax.  The donation of shares is one of the most tax-effective ways to support charities, as share donations receive income tax relief of 100% of their market value.

Donating Shares to The King’s School Worcester Development Trust

Tax relief is available to UK taxpayers who donate shares and securities listed on the UK Stock Market, the Alternative Investment Market, and recognised stock exchanges overseas.

Your shares will be held either in a nominee account (ie proof of ownership is in electronic form) or in share certificate form.

Shares held in a nominee account

If shares are held in a nominee account, there are a few options:

• You can instruct your broker to sell the shares ‘on our behalf’. In this instance your broker will require from us a signed letter confirming that we accept the gift of shares and that we request the sale of shares on behalf of the King’s School Worcester Development Trust. Your broker will also require our bank details, which are:

Account Name: King’s School Worcester Development Trust
Sort Code: 30-99-90
Account Number: 00655584
Reference: SHARES/[YOUR NAME]

• If your broker is Hargreaves Lansdown (HL), your shares can be transferred directly to the School’s own Trust Share account. You will need an internal Stock Transfer Form, and you will also require our HL client number to complete the transfer. Please contact us for these on 01905 721719 or alumni@ksw.org.uk

• Alternatively, you can ask your broker to issue a share certificate on paper. The broker may charge a small fee for this service, however if this is the case you should be able to obtain tax relief on this as well as on the value of the shares.

Share Certificates

Where shares are held in certificate form and depending on how you wish to proceed, the process is as follows:

Either

Handling the gift yourself

Contact your broker or the company’s registrar (their details can be found on your share certificate or dividend vouchers) who will provide a Stock Transfer Form for you to complete, transferring the shares from your name to that of The King’s School Worcester Development Trust, and then return the form to them.  It is important that you keep a copy of this form. It is your evidence to the Inland Revenue concerning the details and date of the gift.

The company registrar will then issue a new certificate in the name of The King’s School Worcester Development Trust, which will be sent to us.

or

Letting The King’s School Worcester Development Trust handle the gift

Send us your share certificate with a letter of instruction agreeing to the disposal of the shares, and we will send you a Stock Transfer Form, which you will simply be asked to sign and return to us.  We can then forward the certificate and completed Transfer Form to your broker or the company’s registrar.

Shares donated to The King’s School will be sold and invested in the Development Trust, and we will contact you to thank you and let you know the final value of your gift.

Please contact the Development & Alumni Relations Office for more information on gifting shares to King’s, on 01905 721719 or alumni@ksw.org.uk

We are enormously grateful for all donations of shares to The King’s School Worcester.

If you would prefer to donate by phone, please call us on 01905 721737.

Some employers offer a Payroll Giving Scheme, in which case you can ask your payroll department to deduct your charitable donations to The King’s School Worcester Development Trust from your gross pay (before tax is deducted).  As a result, you will automatically receive tax relief on your top rate of tax, with King’s receiving the gross value.  If you are interested in this scheme please contact your company payroll department to make initial enquiries.

Payroll Giving may also known as Give As you Earn or Workplace giving.

If you have chosen to donate in this way, please advise the school.

Many companies will help support charities through a matched giving scheme, whereby they will match gifts donated by their employees. Some companies have formal schemes for matched funding, while others may consider each request on its own merits. In many cases, participating companies will match an employee’s donation pound for pound up to a set amount. A number of organisations will even double-match. This means that King’s may be able to benefit from double or even treble the amount of your donation.

Click here for a list of companies which we understand will match the charitable gifts of their employees. If your company is not listed, please contact your Human Resources department to enquire if such a scheme exists. A number of overseas organisations also operate similar schemes, particularly those in the US.

If you are interested in donating through the matching gift scheme, please contact your Human Resources department for a form which needs to be completed and sent to us. By using this scheme you can make your gift worth even more to King’s. If you have chosen to donate in this way, please advise the school.

You can donate property to The King’s School Worcester Development Trust, such as land, buildings, or other objects.

Tax relief can be claimed through donations of property when no interest in the property is retained. This can be through:

• Income tax relief on the value of the donated property.
• Exemption from capital gains tax on the increase in value of the donated property since first acquired, and reduced capital gains tax when property is sold at less than market value.
• Exemption from inheritance tax.

Making a Donation from the US

United States taxpayers can donate through the British Schools and Universities Foundation Inc (BSUF) (Federal Tax ID 13-616-1189) which is a non-profit foundation approved by the US Treasury Department as an exempt charitable organisation under Section 501 (c)(3).

Contributions to BSUF are deductible for Federal Income tax purposes. When making a donation via BSUF, you should express a preference for The King’s School Worcester Development Trust on the Transmittal Form (not on your check).

You may donate via BSUF’s website: bsuf.org.

Making a Donation from overseas

We are very grateful for all gifts from countries outside the UK.  Donations from anywhere in the world can be made by credit or debit card online, by post or by international bank transfer, please refer to ksw.org.uk/donate for full details.

The King’s School Worcester Development Trust is unable to give you financial advice and we would urge you to talk to your financial adviser about the tax implications of donating shares or property. For more information relating to the donation of shares or property please contact the Development Office.