Support the department - Tax savings
Many donations can be eligible for tax savings, giving the University a larger donation without extra cost to you. Two popular means of doing this are via Gift Aid and payroll giving.
GIft Aid contribution to the Annual Fund
Gift Aid is a UK government tax scheme, which enables the University to claim tax relief on donations from UK tax payers. If you would like to see 28% added on top of your gift, please mail us this Gift Aid Declaration - which can either be open ended (applying to a current donation and all future donations) or relating to a particular gift. Or if making a new gift you can Gift Aid it on our UK Giving Form.
For every £1 a UK tax payer donates, 25p in reclaimed tax is added. A £100 gift with Gift Aid, however, is worth £128 to the University. £25 of the additional funding comes from the tax reclaimed and the remainder from transitional relief provided by the government to allow charities to adjust to the fall in basic rate tax from 22% to 20% as of 6th April 2008.
Higher rate tax payers are in addition able to claim tax back on their donation. The amount they can claim back is the difference between higher and basic rate tax (20% as of 6th April 2008) on the gross value of their gift - which is calculated before the transitional relief described above. So for a gift of £100, the gross value would be £125 and a higher rate tax payer could claim back £25, in effect only spending £75.
- In order for gifts to be eligible for Gift Aid, the donor must be a UK taxpayer who will have paid an amount of income tax and/or capital gains tax at least equal to the tax that the University will reclaim on the gifts in the tax year in which they are made.
- Donations from companies are not eligible for Gift Aid. However, the company can treat the gift as an allowable expense, making a saving on Corporation Tax.
- Gifts made with Charities Aid Foundation (CAF) vouchers have already had Gift Aid claimed on them by CAF and passed to the charity, so further Gift Aid cannot be claimed.
Payroll giving
UK taxpayers who are paid under PAYE (Pay As You Earn) can maximise regular donations to the University through the Payroll Giving scheme. Gifts made through Payroll Giving are taken directly from the gross pay, giving the benefactor immediate tax relief at the highest rate of tax for which they qualify.
For instance, a monthly contribution of £100 from a higher rate taxpayer through Payroll Giving would go straight to the University (minus a small administration fee payable to a payroll giving agency) and would only cost the benefactor £60.
Individuals who are UK taxpayers and interested in this method of giving need to request an application form from their employer, detailing their wishes to donate to the University of Oxford Development Trust Fund. The employer will then deduct a gift directly from the salary before tax is applied.
To give on PAYE please visit the Payroll Giving website.