If you are a UK taxpayer, the Inland Revenue Gift Aid scheme enables Queen’s College to reclaim 25p in tax for every £1 it receives in donations. There are no catches to this and it substantially increases the value of donations to the School. Donations at any level are eligible for Gift Aid. Higher-rate taxpayers can also claim an additional amount on their annual tax return. Single and regular donations of any sum are eligible, whether made by cash or cheque.
Anyone who has paid an amount of tax, at least equal to the tax that Queen’s College will reclaim in the tax year that the donation is made, can take part in the Gift Aid scheme. The tax you have paid can be income or capital gains tax at any rate. You can use Gift Aid if you are not a UK resident but you must make your gift out of income or capital gains charged to UK tax.