Your gift can be worth more to Birkbeck than you realise, and at no extra cost to you. This means that as a donor you can do more for the College.
- If you are a UK taxpayer we can claim back income tax on your gift making every £1 that you give us worth £1.25.
- Donors who pay a higher rate of tax are able to reclaim the difference between the higher rate and the basic rate in their Self Assessment Return – bringing the cost of your gift down to less than £0.77 pence in the pound but still being worth £1.25 to us.
- You can apply Gift Aid to all donations. All you need to do is tick the online Gift Aid Declaration box or sign the Gift Aid Declaration form. It really is that simple.
- Payroll giving enables you to make a donation to Birkbeck straight from your gross salary, before tax has been deducted.
- For a basic rate taxpayer (paying 20% tax) to give a £10.00 donation, it will only cost £8.00 or just £6.00 for higher rate taxpayers (paying 40% tax).
- In addition, many employers will match their employees' donations. Ask your employer whether they have a payroll giving scheme.
- If you have any questions relating to payroll giving please contact us.
- This is perhaps the most tax-effective way to give.
- By making a gift of shares to Birkbeck you are entitled to claim full tax relief equal to the market value of the shares and any associated costs such as brokers' fees. For example, if you are higher rate taxpayer and you give £1000 worth of shares to Birkbeck, you will pay £400 less in income tax that year.
- Additionally, no capital gains tax (CGT) will apply to any increase in the value of the shares donated to charity. However, if the shares have fallen in value, the donor will not be able to use this loss to offset any other CGT liability.
If you have any questions on any of these, please contact us.