WE wish to bring to the notice of sub- scribers to the Institution a method by which those who already give generous subscriptions can still further increase their support without any additional cost to themselves.

Charities are themselves exempt from income tax, and, under the Finance Act of 1922, this exemption applies also to individual subscriptions. In order to obtain the exemption the subscriber enters into an agreement to pay the subscription for not less than seven years. Where such an agreement is made, the charitable society is able to collect each year from the Inland Revenue authorities the income tax which the subscriber has paid on his subscription. The agreement, of course, comes to an end should the subscriber die before the completion of seven years.

How the scheme works can best be shown by an example. Income tax is now at 4s. in the pound. In the case of a subscriber of £10 who enters into the agreement, the nominal subscription becomes £12 10s. Of this sum the sub- scriber continues to pay the original £10. The remaining £2 10s. the Institu- tion obtains from the Inland Revenue.

Should the income tax be varied during the period of the agreement, the amount which the Institution obtains from the Inland Revenue will, of course, be varied in proportion. But supposing that the income tax remains at 4s. in the pound for the period of the agreement, this means that the subscriber of the actual sum of £10 a year will have contributed in these seven years, not £70, but £87 10s., and this additional contribu- tion of £17 10s. he will have made, simply by signing the agreement, and without any additional cost to himself.

The Committee of Management have decided to invite large firms and cor- porations, and also individual sub- scribers of £50 and over, to enter into seven-year agreements with the Institu- tion so as to enable it to take advantage of this exemption. The system is ex- tremely simple, and the Institution provides the necessary forms.

Although the Committee of Manage- ment are approaching only firms and other subscribers of considerable amounts in the first instance, we need hardly say that we should warmly welcome the de- cision of any of our subscribers to avail themselves of the method here described of benefiting the Institution. It applies, of course, to any subscription, even of 5s. a year..