Gift Aid increases the value of the donation made to Staffordshire University by allowing the University to reclaim basic rate tax on your gift. If you pay income tax at the higher rate, you can benefit from tax relief by claiming back the difference between the higher rate of tax and the basic rate of tax on the total value of the gross donation.
How Gift Aid works
The Gift Aid scheme is for gifts of money by individuals who pay UK tax. You must pay an amount of Income Tax and/or Capital Gains Tax for each tax year (6 April one year to 5 April the next) that is at least equal to the amount of tax that Staffordshire University will reclaim on your gifts for that tax year. Gift Aid donations are regarded as having basic rate tax deducted by the donor therefore Staffordshire University is able to reclaim 25p of tax on every £1 you give after 6 April 2008.
If you pay income tax at the higher rate, you must include all your Gift Aid donations on your Self Assessment tax return if you wish to receive the additional tax relief due to you. If you do not complete a Self Assessment return, you can give the details on form P810 Tax Review – available from your Tax Office.
Gift Aid Declaration
In order to make a Gift Aid donation you will need to make a (PDF)Gift Aid declaration. The Gift Aid declaration can cover gifts you have already made and/or gifts you may make in the future.
Staffordshire University should be notified if:
- You wish to cancel your declaration.
- Change your name or home address.
- No longer pay sufficient tax on your income and/or capital gains.
See: www.hmrc.gov.uk/charities for further information.
Guidance notes for Gift Aid
- (PDF)Printable Guidance Notes for Gift Aid (PDF, file size: 150.17KB)