UK Giving Form
If we are to reach our fundraising goals it is essential that full advantage is taken of the tax concession which the College may claim. In some cases, these bring direct tax advantages to the donor as well as to the College.
Tax efficient giving
You can help us enlist the taxman as a major benefactor to the College. Because of our charitable status we can recover the basic rate tax deemed to have been paid by you, the donor. With the basic rate at 20%, tax recovery will add £25 to every £100 donated at no extra cost to you. In order for your gifts to be eligible for Gift Aid, you must be a UK tax payer who will have paid an amount of Income Tax and/or Capital Gains tax at least equal to the amount that all charities or Community Amateur Sports Clubs (CASCs) will reclaim on your gifts for that tax year. N.B. Other taxes that you may pay, such as VAT or Council Tax, do not qualify for Gift Aid relief.
Gifts made with Charities Aid Foundation (CAF) or Charities Trust vouchers have already had Gift Aid claimed on them and passed to the charity, so further Gift Aid cannot be reclaimed.
Higher-rate taxpayers have an additional incentive to make their gifts under Gift Aid. You can claim for yourself the relief on the difference between basic and higher rates. For example, if you pay 40% tax and you give £100 the College reclaims £25 increasing the value to £125, and you claim the difference of £25, therefore the net cost to you is £75.
You can make a gift online today through our secure Donor Debit giving pages - click here to make a single gift, or click here to begin a regular donation. You will be taken to a secure site where you will be able to enter your payment details. Once you have made your gift, you will receive a confirmation email – please forward a copy of this to the Development Office so that we know to look out for your gift.
Gifts can also be made by mail (download form on the right), bank transfer (for more details email the Development Office), or phone on + 44 (0) 1865 278346.
Gifts of Shares and Securities
If you make a gift of shares to the College, you can claim tax relief equal to the market value of the shares on the day you make the gift.
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.
A legacy to Worcester College is completely free from Inheritance Tax, so any bequest to the College is deducted from the value of the estate before any tax liability is calculated.
If your estate is worth over £325,000 when you die Inheritance Tax may be due. From 6th April 2012, if you leave 10 per cent of your estate to charity the tax due may be paid at a reduced rate of 36% instead of 40%. For further information on inheritance tax please visit the HM Revenue and Customs website. We also strongly advise that you take legal advice when drawing up your will.
Further giving information can be obtained from the Development Office.