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Gift Aid

Gift Aid

Gift Aid has been simplified and now any level of donation can be made tax-effective.

From 6th April 2000, regulations concerning Gift Aid mean that if you pay income tax, then whatever the amount of your gift its value to Abertay will increase, because as a registered charity Abertay can reclaim the basic income tax which you have already paid.

In addition, if you are a higher-rate taxpayer, you can reclaim from the Inland Revenue the difference between the basic and the higher-rate tax gift on your gift.

There is now no lower limit for Gift Aid and the scheme will cover both single gifts (of any amount) or gifts which are repeated at regular intervals, say by Standing Order, or Direct Debit.

So, with basic rate income tax at 20% and higher rate tax at 40%:

 

If you give Abertay Receives If you are a higher rate tax payer you can also reclaim Net cost to you as a higher rate taxpayer
£100 £125 £25 £75
£500 £625 £125 £375
£1,000 £1,250 £250 £750
£5,000 £6,250 £1,250 £3,750
£10,000 £12,500 £2,500 £7,500

To enable this tax relief to occur, the donor must make a Gift Aid Declaration, which can be done by email by contacting development@abertay.ac.uk, or verbally by contacting the Alumni & Development Office.