UK AND US TAX BENEFITS FOR YOUR CHARITABLE GIFTS
Williams alumni, parents, and friends living and working in the United Kingdom (UK) who wish to support the advancement of education at Williams College, and for the public benefit, may make outright gifts and bequests to the Williams College Foundation (UK) Limited (“UK Foundation”). These donors receive UK tax benefits and may also claim a US tax deduction (if subject to US taxes) for their gifts.
The UK Foundation is a private limited company approved by the Charities Commission for England and Wales, is recognized by the U.S. Internal Revenue Service as a 501(c)3 charity, and is solely owned by Williams College.
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 His 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 acknowledgment letters to donors for UK and US tax purposes.
The UK Foundation accepts gifts of cash made by cheque, wire transfer, and credit card.
- If you wish to wire your gift please use the following account details:
Name of account: Williams College Foundation (UK) Ltd
Sort code: 20-32-06
Account no: 43208109
For any problems please contact Sarah Collin, Administrator by phone or email. - For a cheque payable to Williams College Foundation (UK) Limited and mail to Sarah Collin:
Sarah Collin, Administrator
Williams College Foundation (UK) Limited
99 Durlston Road, London E5 8RP, United Kingdom
Tel. 020-3380-8435
charityservicesuk@yahoo.com
You can also make a gift via credit card (just click on the donate button below):
To make a gift of stock to Williams College Foundation UK Ltd:
Currently Williams College Foundation UK Ltd does not have a brokerage account. Therefore, the Foundation asks for donors wishing to make a gift of shares or securities, to sell them on its behalf. This can be done via an exchange of letters. See more information from HMRC here, specifically chapter 5.15 in the HMRC linked document.
It is important the process is done correctly to avoid any unforeseen tax implications so please contact our UK Administrator Sarah Collin via email charityservicesuk@yahoo.com before you sell the shares to confirm the process and receive a templated letter you can use.
You may also include a gift in your will or codicil as a means of supporting education at the College well into the future. Leaving a bequest might be financially beneficial if you are subject to UK Inheritance Tax.
Additional information on Legacy Giving and Model Legacy Wording for a will or codicil.
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.
If appropriate, complete the Gift Aid Declaration required to reclaim the tax benefit from HMRC.
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
Tel. 020-3380-8435
charityservicesuk@yahoo.com
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: 413-597-3538 or Email: gift.planning@williams.edu) 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.
Megamenu Social