Gift Aid and tax efficient giving
If you are a UK taxpayer, you can make your annual subscription/donation go even further by making it subject to Gift Aid at no extra cost to you.
A Gift Aid declaration enables Glyndebourne to reclaim tax on the charitable donation. In addition to the 25p per £1 that Glyndebourne claims from HMRC, the Government will add an extra 3p so that Glyndebourne receives 28p for each £1 donated under Gift Aid between 06 April 2008 and 05 April 2011.
To be eligible to Gift Aid what you pay in UK income tax and/or capital gains tax must at least equal the tax that all charities you donate to can claim on your donations in the tax year.
Please note that donations from companies are not eligible for Gift Aid. Gifts made with Charities Aid Foundation (CAF) vouchers have already had Gift Aid claimed on them by CAF and passed to the charity, so further Gift Aid cannot be claimed.
If you currently Gift Aid your contribution and your circumstances have changed - or if your subscription is paid by someone other than yourself - please contact:
Rosalind Keeley, Operations Manager
Phone: +44 (0)1273 815413
If you are eligible to Gift Aid simply download and complete the Gift Aid declaration and return it to:
Membership & Development
Tax advantages of leaving a gift in your will
If, once liabilities have been settled, you leave money and possessions worth more than the inheritance tax nil rate band (currently £325,000), inheritance tax at 40% will be due on the balance. However, a gift in your will to Glyndebourne (or any other charity) avoids paying this 40% tax – so, for example, a gift of £1,000 would cost your estate £600. In addition, there is no capital gains tax payable on death, so if you leave a portfolio of shares to Glyndebourne then no capital gains tax would be payable on the transfer of these shares.
It's also worth noting that the nil rate band is transferable to the survivor of a married or civil partnership couple, so the potential exists for up to £650,000 to be given away by this party to non-exempt beneficiaries before inheritance tax becomes payable. For example, a will could be made by the survivor of a Glyndebourne Member/friend under which they leave up to £650,000 (assuming no lifetime gifts have been made in the previous seven years, and that none of the nil rate band was used on the first death) to their relatives and friends and the remainder to Glyndebourne without incurring any liability to inheritance tax.
We always recommended that you ask your solicitor or other professional adviser about the best ways to reduce tax.
Glyndebourne Association America Inc is a US based 501(c)(3) charitable organisation which supports Glyndebourne and its productions in the UK. Contributions to Glyndebourne Association America Inc are tax deductible for US citizens and taxpayers to the extent permitted by US law.
Swiss taxpayers may support Glyndebourne tax efficiently by making their donations or memberships payable to the Association Genevoise pour la Promotion de L'Art Lyrique.
You can deduct the value of the donation from your taxable income, up to 20% of the latter. For example, if you have a taxable income of CHF 100,000 per year, the total deductible amount of donations is CHF 20,000.
If you are interested in making your funding membership or donation through AGPAL, please contact Richard Joyner, Development Coordinator at email@example.com or phone +44 (0) 1273 815 403.
All gifts and memberships have to be specifically designated to Glyndebourne in order for the transfer to be made to our accounts in the UK.
Association Genevoise pour la Promotion de l'Art Lyrique
23, rue de la Fontenette
CH - 1227 Carouge
Ref : Glyndebourne
UBS Geneva, Succursale Acacias
Account number: 240 - 452.076.01V