Payroll Giving Month
February is officially Payroll Giving Month
Did you know you can support your favourite charity through Payroll Giving?
What is Payroll Giving?
Payroll Giving is a scheme run by the government, which lets people make regular, tax-free charity donations through their workplace. How it works is that the charity donation is taken out of your wage BEFORE tax is applied. So you can give more to charity without it costing you anything extra. For most taxpayers, this means a donation of £1 would only cost you 80p, for a higher rate tax payer it would be only 60p.
Who can use Payroll Giving for charity donations?
Any UK taxpayer can use Payroll Giving if they are paid a weekly or monthly wage through PAYE, or if a pension holder has tax deducted by their provider through PAYE. Your workplace or pension provider also needs to run a Payroll Giving Scheme. If they don’t have one yet, it is worth asking if they will soon be setting one up – they can find out more from HMRC.
Can you choose the charity you want the donation to go to?
Yes, you can make your own charity choice, and you don’t have to tell your employers which charity it is.
How do I get started with Payroll Giving?
To start making Payroll Giving donations, ask your employer or pension provider to deduct the amount of your choice from your regular income. You will then need to fill in a form for the Payroll Giving Agency your company uses, specifying the charity you want to support. Your workplace can pass on your regular donations to the agency, which then gives the money to your charity.
Why not consider making a regular monthly donation to Felix Fund using this scheme. Once it’s set up you don’t have to worry about it. This will then continue to provide support to those in need across EOD & Search.