Increase the value of your gift by 25% with Gift Aid
If you are a UK taxpayer, the value of your gift can be increased by 25% under the Gift Aid scheme at no extra cost to you. To qualify for Gift Aid, what you pay in income tax or capital gains tax must at least equal the amount that SCI will claim in the tax year (currently 25p for every £1 donated).
If you are eligible please complete the form which you can download below and email, fax or post it back to us at SCI.
If you are a UK taxpayer and pay higher rate income tax, the Gift Aid scheme allows you to claim back some of the tax on your donation.
When you make a donation under Gift Aid, we claim back the basic rate of tax paid on the donation – increasing the value to us of your gift by 25%. If you are a higher rate tax payer, it is then possible for you to claim back the remaining tax paid on the donation (that is, the difference between the basic rate and higher rate at 40% or 45%) through your tax return.
- Mrs Smith makes a donation of £100 to Imperial. She is taxed at the higher rate of 40%.
- We claim back £25 (equivalent to the basic rate tax paid on the donation), meaning the value of Mrs Smith’s gift to us is £125.
- Mrs Smith then claims back the difference between the basic rate tax (20%) and higher rate tax (40%) paid on her donation. Her claim should be based on the actual amount that we receive, rather than her initial donation – so £125 rather than £100.
- Paying tax at 40%, Mrs Smith can claim back £25 (that is, a difference in lower/higher rate tax of 20% on a donation worth £125). The scheme works in the same way for those who pay additional rate tax at 45% – but allows them to claim an additional 5%.