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 donation worth £125 to the University has only cost the donor £75. |
Example for an additional rate tax payer A donation worth £125 to the University has only cost the donor £68.75. |