Other Ways to Donate
There are a number of other ways you can donate to the College:
Properties and works of art are all exempt from Capital Gains and Inheritance Tax.
Naming the College as the beneficiary of a policy allows a member to make a larger and earlier potential gift than might otherwise be found possible. These advantages are possible because the donor need only pay an annual premium – which, importantly, is tax-deductible – rather than having to donate the entire value of the gift.
Limited Liability Companies and Partnerships
Those who would like to help the College through their limited Liability Companies and Partnerships might may also like to bear in mind that donations to the College offer tax benefits to companies when computing their Corporation Tax liability, and that no forms are necessary to make tax-efficient donations to the College.
There are a number of tax-efficient methods of making a gift to the College. For further information you may also wish to consult the Direct Gov website.
Making a donation via your Self Assessment tax return
Since April 2004, anyone who completes a Self Assessment tax return is able to donate to Peterhouse all or part of any tax repayment due to them, simply by entering the College’s details in the relevant section of the tax return form. Our unique code is RAM35ZG. Gifts made in this way will also be eligible for Gift Aid. HMRC will send your refund (plus any Gift Aid repayment where applicable) directly to Peterhouse by electronic transfer. In order to use SA Donate you need to enter our unique reference code in the space provided on your SA Return.
Using SA Donate to pass on your own tax relief to charity
Higher rate tax relief on Gift Aid donations and all of the tax relief for gifts of qualifying investments to charity is usually given to you, the donor. If, however, you would like Peterhouse to benefit from your tax relief (as well as from receiving your gift) you may be able to use SA Donate to pass it on to us. If you have paid the correct amount of tax (for a tax year that you make a gift of land or shares to a charity) when you claim the income tax relief or make a claim for higher rate relief for Gift Aid donations a repayment may be generated. You can nominate Peterhouse to receive that repayment through SA Donate using our unique reference code.
To find out more about giving to Peterhouse via your Self Assessment tax return, please email firstname.lastname@example.org or call 01223 765187 and ask to speak to Saskia Murk Jansen.
Your company may run a Payroll Giving scheme, through which you can make a regular gift to Peterhouse directly through your payroll, and your employer may even match your contributions.
For example, a £15 gross salary deduction would reduce the overall tax liability of:
- a basic rate taxpayer (paying 20% tax) by £3.00
- higher rate taxpayers (paying 40% tax) by as much as £6
- super rate taxpayers (paying 50% tax) by as much as £7.50
So, that £15 donation costs £12.00 (for basic rate taxpayers), £11 (for higher rate taxpayers) or £7.50 (for super rate taxpayer). If you are higher rate tax payer, this is the only way to ensure your donation is entirely tax-free. If you chose to donate in any other way, Peterhouse can claim the tax relief through Gift Aid but only at the basic rate of tax.
You may feel that you wish to leave a gift to Peterhouse in your will. In 2011 the Chancellor introduced a new inheritance tax relief in the budget. The effect of the relief is that those leaving 10% or more of their estate to a charity will benefit from a reduction in the rate at which they pay inheritance tax effectively reducing the cost of the bequest to the estate. All charitable legacies are themselves exempt from inheritance tax, so whatever you decided to leave to Peterhouse would go directly to support the work of the College. If you do decide to remember the College in your will, then please let us know so that we can add you to the list of members of the William Stone Society.