Benefit from UK Gift Aid and US Tax Deductions
For the benefit of Williams alumni and friends in the United Kingdom (UK) and the College, Williams recently established the Williams College Foundation (UK) Limited (“UK Foundation”), a private limited company approved by the Charities Commission for England and Wales, and recognized by the U.S. Internal Revenue Service as a 501(c)3 charity. The UK Foundation is solely owned by Williams College.
UK residents can now support Williams College by making gifts to our new UK entity and receive UK tax benefits and also claim a US tax deduction (if subject to US taxes) – all for the same gift.
Gifts made to the UK Foundation generally qualify for Gift Aid, a form of UK tax relief designed to encourage charitable giving. Under Gift Aid, the UK Foundation can apply to Her Majesty’s Revenue and Customs (HMRC) to claim the basic-rate income tax that has been paid on the gross amount of the gift, thereby increasing the value of your gift to Williams at no extra cost to you.
Example: If you make a gift of £1,000, the UK Foundation will be able to recover a further £250 from HMRC. If you are a UK higher-rate taxpayer, you may be entitled to claim further tax relief in your self-assessment tax return.
If you are subject to tax in both the UK and the US, you may also be eligible to claim a US charitable income tax deduction for the amount of your gift, including Gift Aid reclaimed, on your IRS Form 1040. Both the UK Foundation and the College will send acknowledgement letters to donors for UK and US tax purposes.
How to make a gift: The UK Foundation accepts gifts of cash made by cheque, wire transfer, and PayPal.
1. a. cash wire instructions, please contact Sarah Collin, Administrator directly by phone or email (see #4 below)
b. cheque payable to Williams College Foundation (UK) Limited and mail to Sarah Collin (see #4 below)
c. You can also make a gift via credit card using PayPal (just click on the donate button below):
2. Complete the Gift Notification and Allocation Form. Your gift to the UK Foundation may support a particular purpose or program (i.e. Alumni or Parents Fund, 25th or 50th Reunion Fund, etc.) that is consistent with the objectives of the UK Foundation, which is the advancement of learning and education in particular at Williams College.
3. If appropriate, complete the Gift Aid Declaration required to reclaim the tax benefit from HMRC.
4. Please send your completed forms (and cheque if applicable) to:
Sarah Collin, Administrator
Williams College Foundation (UK) Limited
99 Durlston Road, London E5 8RP, United Kingdom
NOTE: Although not eligible for gift aid, the UK Foundation can accept gifts from corporate entities, foundations, donor advised funds (such as CAF), payroll deduction, and employer matching gifts. Only individual donations should be listed on your Gift Declaration Form.
Bequests: If you are interested in making a bequest intention (legacy gift) to the UK Foundation, please contact the Williams Office of Gift Planning (Tel: 877-374-7526 or Email: email@example.com) and they can work with you individually on the details.
Williams College Foundation (UK) Limited and Williams College do not provide legal or tax advice. We advise you to seek your own legal and tax advice in connection with gift and planning matters.