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Otherwise known as "payroll giving" this is the easiest
and simplest method for regular giving and for making one-off
donations when receiving a company bonus. Decide how much
you wish to give and then notify your employer of the name
of the charity which you wish to benefit (i.e. Communities
Empowerment Network) and the size of your monthly donation.
This donation is then deducted from your gross monthly salary
and for tax purposes you will be deemed to have received a
smaller income. If you decide to donate £100 per month, it
means that if you are a basic rate taxpayer you will pay £22
less tax per month while a higher rate taxpayer will benefit
to the tune of £40. This brings down the actual cost of the
donation to £78 and £60 respectively.
There is one further benefit to be gained from payroll giving.
Up until April 2003 the government will add an extra 10% to
the amount which you are donating. Therefore a total donation
of £110 will only cost a higher rate taxpayer £60.
To action a payroll giving donation, download the payroll giving form, complete
it and hand it to your Payroll Manager.
If you require any further information on payroll giving
020 8432 0530
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