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If the donor is a higher rate or additional rate taxpayer, the donor is entitled to claim further tax relief on their donation on the difference between the higher/additional rate of tax (currently 40% and 45% respectively) and the basic rate in their Self-Assessment tax return. Currently this is 25p in every £1 for higher rate tax payers and 31p in every £1 for additional rate tax payers.

Example for a higher rate tax payer
A donor gives £100 in tax year 2017/2018 (the gross value of the donation to the University is £125). The donor is able to reclaim higher rate relief of £25.00 (£125@20%).

A donation worth £125 to the University has only cost the donor £75.

Example for an additional rate tax payer
A donor gives £100 in tax year 2017/2018 (the gross value of the donation to the University is £125). The donor is able to reclaim additional rate relief of £31.25 (£125@25%).

A donation worth £125 to the University has only cost the donor £68.75.

 

 

 

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Please see our CORONAVIRUS/COVID-19 Assistance pages for help with areas of Finance during the current situation.

UFS issued communications and the University website also contain information on this topic

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