Over the years it has become a bit of an institution in the U.K and one which our very own residents and staff like to get involved with.
To get inspired for this week's events, here are some of the most interesting facts:
1) Comic Relief was founded in 1985 by Richard Curtis and comedian Lenny Henry in response to famine in Ethiopia.
2) The first Red Nose Day was launched on Christmas Day and made £15 million. To date, Comic Relief has raised over £1 BILLION!
3) The charity works in different areas all over the world and supports 17,000 causes in the U.K alone, including working with domestic violence initiatives.
4) Comic Relief has helped over 3 million people affected by HIV in Africa.
5) The name for Red Nose Day was inspired by the fact that clowns wear red noses and make people laugh by doing silly things.
6) There have been twenty different types of red noses so far. This year the noses come in special bags.
7) On Red Nose Day, members of the public are encouraged to get involved with fundraising for Comic Relief by doing silly and fun things, whether it is baking, wearing fancy dress or hosting comedy nights.
8) In 2001 J. K. Rowling wrote two books for Comic Relief - Fantastic Beasts and Where to Find Them and Quidditch Through the Ages.
9) There is always a charity single to accompany Red Nose Day. Over the years singers have included One Direction, Sam Smith and The Wanted. Of course, our personal favourites were The Spice Girls, who, in our opinion had the best song of all time.
10) This year, a special "Love Actually" sequel has been written for Red Nose Day and will feature the original cast. WE. CAN. NOT. WAIT.
This Friday, some of our UAL Halls will be hosting an all-day bake sale to raise money for Comic Relief/Red Nose Day. Make sure you go down to your reception to get your fix of sweet treats and cakes!
To find out more about the work that Comic Relief does, please visit their website.