Through the University's charitable status, we are able to increase the value of UK taxpayers’ gifts through the Gift Aid Scheme.
If you are making a gift from the UK, and are a UK taxpayer, you are able to make a gift aid declaration on your donation. With Gift Aid, the University will receive 25p on top of every £1 donated.
In addition, HMRC will automatically pay the University a further three pence for every pound donated. This ‘transitional relief’ – to adjust to the fall in basic rate tax (from 22 per cent to 20 per cent) – is available from 6 April 2008 until 5 April 2011.
This means for every £1 donated, the charity can receive 28 pence, so the total value of the donation is £1.28. In other words increasing your donation by almost a third.
As a higher rate taxpayer, you can reclaim tax as if it was paid at the basic rate, and reclaim the difference from the Inland Revenue in the form of additional relief showing the donation on your tax return.
Find out how much your donation could be worth using our Gift Aid calculator: