Gifts from UK Taxpayers

If you are a UK taxpayer—even if you also pay taxes in the US—you may be able to increase the value of your gift by supporting Duke University through Duke UK Trust Limited, a UK-registered charity, and electing to have Gift Aid apply to your donation.

What is Gift Aid?

Gift Aid is the UK government program that encourages gifts to UK-registered charities by allowing the charity to reclaim taxes that a donor has previously paid.

What are the benefits for Duke?

Through Gift Aid, we are able to reclaim from HM Revenue and Customs (HMRC) the basic rate of tax that you have paid on those funds, thereby significantly increasing the value of your gift. Currently, for every £1 donated, Duke UK Trust will receive an additional 25 pence from HMRC. This means that, if you make a gift of £1,000, Duke UK Trust will receive a total of £1,250 for Duke.

Gifts benefiting Duke University will only qualify for Gift Aid if made through Duke UK Trust.

What are the benefits for you?

If you pay tax in the UK at a rate higher than the basic 20% tax rate, you may be able to claim additional tax relief on your donation.
If you pay taxes in both the UK and US (for instance, if you are a US citizen working in the UK), you may be eligible for tax benefits in both countries for the same gift. In the US, gifts to Duke UK Trust are considered direct gifts to Duke University.
If you are a US taxpayer, depending on your particular situation, you may be able to claim relief for both the gift and the 25% Gift Aid amount.
Please contact your US/UK personal tax advisor to learn more about the tax implications for your particular situation. (For additional information about US taxes, visit http://www.irs.gov/taxtopics/tc506.html)

What gifts qualify for Gift Aid?

You are eligible for Gift Aid if you pay UK tax at the basic rate and you make a monetary gift to Duke UK Trust by check or wire transfer. Gifts of stock do not qualify for Gift Aid, nor do gifts received from a corporate entity, foundation, trust, or through payroll deduction.

What do I need to do to ensure that my gift qualifies for Gift Aid?

You will need to complete a Gift Aid Declaration (.pdf format) and forward it to Duke UK Trust. The Duke UK Trust will then apply to HMRC to reclaim a portion of taxes previously paid by you. You may indicate on the Declaration that it should apply to all future gifts to Duke UK Trust and thus remain in force until cancelled. There is no limit to how often Gift Aid can be used to make gifts to Duke UK Trust.

What types of gifts are accepted by Duke UK Trust?

Duke UK Trust currently accepts only monetary gifts.

What type of currency is accepted by Duke UK Trust?

Gifts to Duke UK Trust may be made in any hard currency.

Can I make a gift to Duke UK Trust through my estate?

Yes. A bequest to Duke UK Trust generally should be exempt from both UK inheritance tax and US federal estate tax. Since everyone’s tax situation is different, we urge all donors to consult their tax advisors on their specific estate planning situations.

Can I designate my gift to Duke UK Trust for specific purposes at Duke?

You may designate your gift to support programs or purposes that are consistent with the objectives of Duke UK Trust, which are “to advance education for the public, and support academic research and the provision of healthcare, in particular by awarding grants to Duke University in Durham, North Carolina, USA, to support the education, academic research and healthcare efforts undertaken by that nonprofit institution.” Gifts may be made to Duke UK Trust in support of any of the schools and units at Duke, the Annual Fund, scholarships, faculty support, medical or scientific research, or any other programs or purposes consistent with the objectives of Duke UK Trust. If you are considering a gift with specific restrictions, please feel free to contact us to ensure that Duke UK Trust will be able to fulfill your expectations.

How is my gift acknowledged? What happens after the gift?

Duke UK Trust will send you a letter of acknowledgement evidencing your gift to the Duke UK Trust. In addition, Duke’s Office of Alumni and Development Records will forward to you an acknowledgement letter from the university denominating your gift in US dollars. Duke UK Trust will assist you in the completion of a Gift Aid Declaration, as necessary, and collect the Gift Aid proceeds from HMRC. Duke UK Trust will periodically remit monies to Duke to support the university in accordance with the objectives of Duke UK Trust listed above.

To learn more about Gift Aid, visit:
http://www.hmrc.gov.uk/individuals/giving/gift-aid.htm.