Payroll Giving also known as Give As You Earn, is proving to be a must HAVE staff benefit for many employers across the UK.
Recent research shows that It is estimated that over 20% of UK companies have Payroll Giving as one of their staff benefits although there is plenty of room for this to grow, over the last 35 years the scheme has supported 40,000 UK charities and raised more than £2.7 billion generously donated by around 1 million employees.
There are many benefits of Payroll Giving to employees, with the TAX RELIEF at source being one of the most appealing. The scheme is tax effective with donations coming straight from your pay before income tax, which means the charity gets the benefit of the tax straight away and costing you less to give more.
For example, for a charity to receive a £25 donation, it effectively ‘costs’ a base rate taxpayer £20 or a higher rate taxpayer £15. Many employers also match their employees’ payroll giving.
Take a look HERE at our Payroll Giving Calculator to see how much your pledge would cost you based on your own tax rate.
Donations through pay are great for the good causes you care about, providing charities with the regular, reliable income stream that enables them to plan and budget for the future.