Payroll Giving
Payroll giving, also known as ‘give as you earn’, is an easy and tax-effective way to make a regular donation, so it costs you less to give more.
It is a great way to engage employees and boost your employee benefits package. It is also an excellent addition to your corporate social responsibility (CSR) programme, enabling employees to more easily engage in charitable giving. There is also no financial cost to your business.
How payroll giving works:
Donations are deducted from gross pay before tax is deducted. This gives immediate tax relief.
Depending on the individual’s tax rate, if they donate £10 per month, they pay £8 from their net pay and Farleigh receives £10, a winning formula for everyone involved!
The Farleigh corporate team will provide you with the details of the hospice’s chosen payroll giving agency. The agency will help you set up the scheme and provide technical support.
Once everything is set up, we will help you promote the scheme to your staff with a media pack including posters, media banners, and information on the scheme.
| Donation amount: | Cost to standard rate taxpayer (20%) |
|---|---|
| £5: | £4 |
| £5: | £8 |
| £15: | £12 |
| Donation amount: | Cost to higher rate tax payer (40%) |
| £5: | £3 |
| £10: | £6 |
| £15: | £9 |
There is more information on the government website here