Ways of Giving

The Annual Fund

The Annual Fund is the basis of Millfield's ongoing fund raising. Every year members of the school community are invited to make a gift of any size towards the chosen projects for the year; projects that will make a difference in the short term and enhance the opportunities for students today and in the future! Seeking funds for scholarship and bursary support will always remain a focus of the Annual Fund.

Of particular priority to the OM Society is the RJOM FUND, founded in memory of ‘Boss' Meyer. This fund was established in 1991 to provide scholarship and bursary support for the sons and daughters of OMs.

We hope that a growing participation in the Annual Fund will create an enthusiastic community of support that will help maintain Millfield's unique reputation throughout the UK and abroad.

2011 Annual Fund (pdf 1mb)

Bequests

One of the most significant ways of helping the school in the long term is through inclusion of Millfield in your will. Your indication of support through a bequest may be to express gratitude or loyalty; to enhance the school facilities for future generations; to perpetuate a beloved name or help to provide opportunities for students in the future. The choice is yours.

Making a bequest in a Will is a tax efficient method of giving, as it is free of inheritance tax and can greatly benefit the process of estate planning. There are several ways in which a legacy donation can be made when writing or amending your Will. We can advise and discuss options with you but strongly urge you also to seek independent advice.

An annual event is held every year to thank those who are making a financial contribution towards the future of Millfield. In this way we can thank you in your lifetime but we also acknowledge and understand those who prefer to remain anonymous.

For a confidential discussion regarding any of the above, please contact Ian McLean at ianmclean@millfieldschool.com or 01458 444577

Gifts of shares, land or buildings by individuals

If you give land, property or qualifying shares to Millfield, or sell them to Millfield at less than their market value, you can claim Income Tax relief and lower your tax bill, as well as getting Capital Gains Tax relief.

Gifts of Appreciated Shares and Securities

Large tax savings are made by the donor by saving not only on capital gains tax but on income tax as well.

All donations of shares to Millfield receive income tax relief of 100% of their market value. This means if you give shares worth £100,000 to Millfield, you will receive income tax relief based on this in full, i.e. £40,000 at the higher rate of tax. This relief applies whether it is an individual or a company disposing of the shares.

Donors will claim the tax relief at their top rate of tax on their Self assessment or Corporation Tax return.

The only requirements to make such a saving are that donors must:

• Claim the tax relief themselves in their tax return
• Give the shares intact (i.e. not sell them first)
• Give listed shares or securities, units in authorised trusts, shares in open-ended investment companies, holdings in foreign collective investment schemes or unlisted shares or securities dealt on a recognised stock exchange

In addition to the income tax saving, donors making gifts of shares to Millfield will not attract any capital gains liability. If a tax payer makes a gift of shares to Millfield, with £100,000 worth of capital gains, there will be no capital gains tax on this gift; so a potential saving of £40,000.

While we endeavour to ensure all information is correct, we advise you to consult your tax adviser or accountant when considering changes to your financial affairs.

Giving through your payslip or pension

If you pay tax through PAYE (Pay As You Earn), Payroll Giving offers a simple way to reduce the cost to you of making regular gifts to Millfield. If your employer or company/personal pension provider runs a Payroll Giving Scheme, you simply authorise them to make the donation from your wages or pension before deducting any tax.

A Guide to Tax-efficient Giving

Charitable status allows gifts to Millfield or Millfield Foundation by both individuals and corporate supporters to be tax-efficient, either through a single donation or by spreading the donation over a number of years.

Gifts of Cash by Gift Aid

Making a gift of any size using the Gift Aid scheme enables Millfield to reclaim from the Government the basic rate of tax (20%) on the gift which will already have been paid by the donor. If you pay higher rate tax, you can claim the difference between the higher rate of tax (40 and/or 50 per cent) and the basic rate of tax (20 per cent) on the total 'gross' value of your donation.

Your Contribution	You can claim higher tax rate relief (if applicable)	Your actual contribution	Millfield can claim basic rate tax (currently 22%)	Millfield receives
£100	£37.50	£62.50	£25.00	£125.00
£1,000	£375.00	£625.00	£250.00	£1,250.00
£5,000	£1,875.00	£3,125.00	£1,250.00	£6,250.00
£50,000	£18,750.00	£31,250.00	£12,500.00	£62,500.00

Donation form (pdf 94.2kb)

For USA Residents

British Schools & Universities Foundation Inc. (BSUF)
Millfield is registered with the British Schools & Universities Foundation Inc (BSUF), an approved charitable organization under section 501(c)(3). Anyone making a donation to BSUF and specifying a preference for Millfield will be eligible for a charitable deduction for US Income Tax purposes. Grants are made by the board every three months. Cheques should be made payable to the BSUF and forwarded with a BSUF donation form (pdf 303kb) to:

British Schools & Universities Foundation Inc.
575 Madison Avenue, Suite 1006
New York, NY 10022-2511

A copy should also be sent to Millfield's US representative so the school can properly acknowledge your support:

Mr Behdad Alizadeh
Pardus Capital Management L.P.
590 Madison Avenue
Suite 25E
NEW YORK NY 10022
USA
Email: behdad.alizadeh@PardusCapital.com