If you’re considering giving but are unsure where to start or how to make the biggest difference, Lincolnshire Community Foundation can guide you. We specialise in creating bespoke funds that align with your specific priorities, helping your donations target the issues that matter most to you in local communities.
With our extensive knowledge of Lincolnshire’s voluntary sector, we identify the charities and groups that are creating the greatest impact and can also conduct targeted research to ensure your contributions support the causes closest to your heart.
By working with us, you can be confident that each grant is carefully assessed by our independent grants panel, with ongoing monitoring to maximise its impact. We provide detailed feedback on the groups and individuals benefiting from your support, with opportunities to connect directly with the projects you fund.
Setting up a fund with Lincolnshire Community Foundation is an alternative to starting your own charity, offering flexibility and peace of mind. This approach may be suitable if you are receiving or leaving a legacy, managing significant assets, or selling a business or property. We handle all requests and grant management, can involve family and close friends, and provide tax-efficient giving options, keeping administration costs low while ensuring your funds go further to benefit local communities.
The Charity Commission recognises that Community Foundations like ours effectively manage charitable funds, optimising their local impact and making your giving as powerful as possible.
By making a Gift Aid donation, charities can receive extra funds without any additional cost to you as a UK taxpayer. The donation is treated as if basic rate income tax had already been deducted, allowing the charity to reclaim that tax from HM Revenue & Customs (HMRC). For example, a donation of £10,000 with Gift Aid allows the charity to claim an additional £2,500, meaning the charity receives £12,500 in total.
Higher rate taxpayers can claim back the difference between the higher rates of tax (40% or 45%) and the basic rate (20%) on the total donation value. For example, a 40% taxpayer donating £10,000 can reclaim £2,500, meaning the net cost to the donor is £7,500, while the charity still receives £12,500.
If you complete a Self-Assessment tax return and are due a repayment from HM Revenue & Customs (HMRC), you can choose to donate some or all of that refund directly to charity through the SA Donate scheme. This allows taxpayers to support charitable causes as part of the tax return process. The donation is made from the repayment owed to you, making it a simple and tax-efficient way to give while completing your annual tax return.
Contributions to charity through Payroll Giving can be made in any amount and are taken directly from your salary before tax is deducted. Because donations are made from your gross pay, the amount of tax you pay is reduced. This provides a simple and tax-efficient way to give regularly through your employment.
Leaving a gift to charity in your will can reduce the Inheritance Tax due on your estate. You can choose to leave a fixed amount, a specific item such as shares or property, or a portion of your estate to support causes that matter to you.
Tax relief is available when donating certain shares, securities, or investments to charity. When qualifying investments are given to a UK charity, donors may receive income tax relief on the value of the donation, and capital gains tax may also be avoided, making this a highly tax-efficient way to give.
Donations made by a limited company to charity can be deducted from the company’s total profits before Corporation Tax is calculated. This means businesses can support charitable causes while benefiting from tax relief. However, corporate donations are not eligible for Gift Aid.
Companies may also receive Corporation Tax relief when donating land, buildings, or qualifying shares to charity, or when selling them to a charity for less than their market value. This can provide a tax-efficient way for businesses to support charitable causes while making use of company assets.
Start Building Your Clients’ Legacy Today
Whether you are considering a family legacy, a personal impact, or a fund to honour a loved one, we’re here to help you make philanthropy a powerful part of their financial journey.
Contact us to explore how we can help tailor giving solutions to meet your own goals.
