Maximising the value of your gift is clearly to everyone's advantage. As a supporter, you can do far more for the University than you had expected and, as the fortunate recipient, we can undertake far more with your gift.
There are two main ways in which we can increase the impact of your support: Gift Aid and Challenge Gifts. There are also two additional methods of supporting St Mary’s with substantial tax benefits to you as a donor: Donating Stocks, Shares and Securities and Donating Land (click on the method for further details). Finally, we have included sections on Payroll Giving and Corporate Matched Giving.
Gift Aid (UK taxpayers only)
Under the Gift Aid system, the University can reclaim the basic rate of tax (currently 20%) which UK taxpayers have already paid on the money they donate. This equates to a net gain of 25% on the value of the gift. In addition, higher rate taxpayers may reclaim the difference between the basic rate and the higher rate (40%) of tax they have paid on their gift. This equates to another 25%. For example:
- You donate: £100
- St Mary's reclaims tax at basic rate: £25
- Total value of gift to St Mary's: £125
- You reclaim tax (if 40% higher rate taxpayer): £25
- Net cost to you: £75
- You donate: £500
- St Mary's reclaims tax at basic rate: £125
- Total value of gift to St Mary's: £625
- You reclaim tax (if 40% higher rate taxpayer): £125
- Net cost to you: £375
From time to time, major supporters of the University put us on our mettle by offering substantial donations provided we can match them with other gifts from our constituency. They thus incentivise both St Mary’s and our supporters to do more, work harder and give more generously. As and when such challenges are handed to us, we will publicise them here.
Your company may offer payroll giving. Payroll giving means that your donation is deducted from your salary before tax, so each £1.00 you give will only cost you 75p, or 60p if you are a higher rate taxpayer. Your Payroll or HR department will be able to provide you with details if they run this scheme.
Corporate matched giving
Many companies will help charitable donations through a matched giving scheme. Some will match pound for pound, and others will even double match donations made to universities by its employees. If you are making a gift to St Mary’s, please check with your Payroll or HR department whether your company operates such a scheme.