Any donations made by UK taxpayers can be made tax-efficient by completing a gift-aid declaration form. This allows the university to reclaim tax you have made on your gift, thereby increasing the value of your gift by almost a third, at no additional cost to you. If you are a higher rate tax payer you can reclaim the balance between higher and basic rates for yourself, further reducing the cost of your gift.
Gift Aid allows us to reclaim, from the Inland Revenue, 25p on every pound you donate. Therefore if you make a gift of £10, under the scheme, that donation will be worth £12.82 to the University.
Higher rate taxpayers can claim the difference between the higher rate of tax at 40% and the basic rate of tax at 20%, in your Self Assessment return.
By signing the Gift Aid Declaration on the donation form will allow the university to reclaim tax on all donations regardless of size.