Charitable organisations which receive donations from UK resident taxpayers can reclaim tax at the basic rate, currently 20%.

In order for this to take place, it is necessary for each donor to complete a Gift Aid Declaration form at the time of the first donation, and post it to Bill Frankel at the address below.

The effect of this is that for every £1000 donated by a UK resident taxpayer, the charity will be able to reclaim £200 from Inland Revenue.

In addition, where the UK resident taxpayer pays tax at more than the basic rate of tax (i.e. more than 20%) then the taxpayer is able to claim from Revenue for his or her own benefit the difference between the basic rate and the higher rate of tax. This is done through the taxpayer’s own annual self-assessment tax return form.

UK resident taxpayers can also give shares to a UK charity. These gifts will be free from capital gains tax and the donor will be able to offset the value of the shares given against his or her other taxable income.

Any legacies left to a UK charity are also free from death duties and without limit. There are also schemes whereby employees of a company can make regular donations to a UK charity under what is known as the 'Payroll Giving Scheme' where there are tax advantages.

The Wits Foundation, U.K. was registered on 13th July 2001 (Registered in England No. 4217424; Charity Registration No. 1087539). Its Governing Document is the Memorandum and Articles of Association, Incorporated on 15th May 2001. The Charitable Objects of the Company are :

'Such general objects as are charitable at law and in particular (but without prejudice to the generality of the foregoing words) the advancement of education for the benefit of the public and in particular the advancement of education at the University of the Witwatersrand in South Africa.'

The Wits Foundation is managed by William H. Frankel, OBE, and is located at :

Sixth Floor Abacus House
33 Gutter Lane
LONDON EC2V 8AR
Tel: 0944 207 4573000