Gift Aid and Tax
UK tax payers can make tax efficient donations through Gift Aid. By completing a Gift Aid Declaration Form, donors allow the College to reclaim the tax equivalent to the basic rate of income tax (20%), so an £800 gift would therefore be worth £1,000 to the College.
Corpus Christi College Cambridge is a registered charity, number 1137453. Please see below for information about tax efficient giving from the UK. Information about tax efficient giving from the US, Canada and Europe can be found here. If you have any further questions about tax efficient giving, please do not hesitate to contact the Development Office on email@example.com or (01223) 339731.
Tax efficient giving for UK tax payers
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 reclaim can either be kept by the donor or donated back to Corpus. The following examples show the full potential of gifts made to Corpus 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|
* Full potential with Gift Aid added if higher rate relief is donated to Corpus. More information about donating tax relief to charity can be found here.
To submit a Gift Aid Declaration Form please click here.