UK tax payers can make tax efficient donations to the college through the Gift Aid Scheme. By completing a Gift Aid Declaration, donors allow Hughes Hall to claim back the tax equivalent to the basic rate of income tax (20%). This means that we receive an extra 25p for every £1 you give at no extra cost to you.
UK donors paying higher rates of income tax, either at 40% or 45%, can reclaim the difference between the basic rate and the highest rate of tax on the gross value of their gift through their self-assessment tax return. Higher rate tax payers who do not complete a self-assessment form can contact their local tax office and reclaim the tax on their donation using a P810 form. The reclaimed amount can either be kept by the donor or donated back to college.
The following examples show the full potential of gifts made to Hughes Hall by a donor paying tax at each rate:
|Donation||Charity Claims||Total Donation||Donor Reclaims||Full Potential*|
|Basic Rate Taxpayer (20%)||£800||£200||£1,000||–||£1,000|
|Higher Rate Taxpayer (40%)||£800||£200||£1,000||£200||£1,200|
|Highest Rate Taxpayer (45%)||£800||£200||£1,000||£250||£1,250|
You can also make a Gift Aid Declaration by email using the example below as a template.
|Sample Gift Aid Declaration by Email
I, <Full Name>, whose home address is:
<Full UK Home Address>
I would like Hughes Hall to claim Gift Aid on all donations I have made in the last four years and any future donations I make. I confirm that I am a UK tax payer and that I have paid or will pay an amount of Income Tax and/or Capital Gains Tax for each tax year (6 April to 5 April) that is at least equal to the amount of tax that all the charities or Community Amateur Sports Clubs (CASCs) that I donate to will reclaim on my gifts for that tax year. I understand that if I pay less Income Tax and/or Capital Gains Tax than the amount of Gift Aid claimed on all my donations in that tax year it is my responsibility to pay any difference. I understand that other taxes such as VAT and Council Tax do not qualify. I under-stand the charity will reclaim 25p of tax on every £1 that I give or have given in the last four tax years.
To maximise your tax giving, your Gift Aid Declaration is backdated four years as permitted by the Gift Aid Scheme, however if you have started paying taxes more recently or would prefer not to backdate the declaration for any other reason, please email email@example.com. Please also notify Hughes Hall if you:
More information about Gift Aid Scheme can be found here.