Tadworth & Walton Overseas Aid Trust
Registered Charity No 286076
Online donations can be made via CAF Donate
General donations please go here: https://cafdonate.cafonline.org/22337
Other methods of donating to TWOAT include transferring money directly to our bank account or sending a cheque made out to TWOAT to our Treasurer Antony Hawker at The Holt, Alcocks Lane, KT20 6BB. You can see how to download a Gift Aid and Standing Order form below – this form includes details of TWOAT’s bank account. If you have not previously done so and you are a UK tax payer, it would be very helpful to us if you are able to complete the Gift Aid Declaration form and return it to Antony Hawker. He can use your declaration to claim an additional 25% to be added to your donation by the UK government which is effectively refunding the taxes you have paid on the amount you have donated.
If you have not already given us a Gift Aid form please email Mike.Fox2@NTLWorld.com to obtain one or download our Gift Aid and standing Order form
STANDING ORDER AUTHORITY & Gift Aid 2020
Donations in connection with our John Allinson Memorial Sponsored Walk please go here: https://cafdonate.cafonline.org/23192
The Charities Aid Foundation CAF acts as both a charity and a bank. They can facilitate your charitable giving by claiming Gift Aid on your behalf and adding it to the funds that they hold for you before passing them to charities of your choice. If you set up a CAF account then you can utilise their online facilities to donate directly to TWOAT. For further details of CAF visit here:
https://www.cafonline.org/
Donations to charities from a Will are not only one of the most important sources of income for charities but also can reduce the Tax paid on the rest of an estate.
The following is an example of how Inheritance Tax (IHT) can be reduced on the taxable part of your estate when donating to charity.
Inheritance Tax Example
If you donate to charities at least 10% of the value of your estate after Inheritance Tax (IHT) allowances, then not only is that 10% not subject to IHT but also the remaining 90% is taxed at a reduced rate of 36% as compared with the normal 40%. As an example, if you are a couple with a home worth in excess of £350k, which you leave to direct descendants, then your joint allowance before your estate pays IHT is £1m. So, say your estate is worth £1.5m then the net value £500k is subject to IHT at 40% totaling £200k. However, if your Will gifts 10% of the net value of your estate, in this case £50k, to charity then the remaining £450k is only taxed at 36% = £162k. After subtracting the £50k for the charities your heirs will still receive £1,288,000 instead of £1.3m a reduction of only £12k, less than 1% difference, whilst charities have received £50k. Of course, if you were already planning to give a few thousand pounds to charity, which would not trigger the reduction to 36%, then the difference for the other heirs would be even smaller. This lesser known tax concession is potentially many times more valuable to charities than the better known Gift Aid and you can of course include any number of charities to receive a share of the 10%. I should add a word of caution that governments can vary the tax regime whenever they wish, as long as they can get parliament to approve the changes, and you would be wise to take professional advice in matters such as Wills. But if you would like to find out more about supporting TWOAT in this very tax-efficient way, please contact our Treasurer Antony Hawker TWOAT@ecit.uk
If you are donating in memory of our Hon Secretary David Northway please leave a message that we can pass to his family. His Memorial Service was held in the Good Shepherd Church Tadworth on Jan 5th 2023 at 11.30am.
David Northway with members of the TWOAT Committee in 2018