Tax Effective Giving
As we approach the end of the tax year, it is an opportune time to give to the next generation of property professionals who would hugely appreciate your support.
If you are a UK taxpayer, why not give Gift Aid along with your donation at no extra cost to you? This increases your donation by 25% for example making a £100 donation £125! All you need to do is complete our short Gift Aid declaration form.
Furthermore, if you give Gift Aid and you pay income tax at the higher rate of 40%, or the additional rate of 45%, there are even more benefits for you and us! Find out what you can claim back here.
You can claim back the difference between the tax rate you pay and the basic rate on the value of your donation. As an example, if you donate £1,000 to the RREF and say yes to Gift Aid, your gift is worth £1,250 to the RREF. If you pay 40% or 45% tax, then you can claim back £250 or £312.50 (20% or 25% of the £1,250 donation). This means that your donation effectively costs you even less as you will have effectively donated £750 or £687.50.
You can do this via your self-assessment tax return or by asking HM Revenue and Customs (HMRC) to amend your tax code. We can send you an annual donation statement that you can use when filling in your tax return to help make this process simpler.
Donate prior to the 5th of April before this tax year ends to help us improve the university experience of REP students! Please contact our Senior Development Manager, Tish Gauci, at [email protected] if you have any questions. Thank you for supporting RREF.