Call for more employers to offer Payroll Giving to staff
06 October 2016
6 October 2016
BT Chairman Sir Michael Rake has launched a new phase of the national Geared for Giving Campaign that is calling for every employer in the UK with over 250 employees to offer Payroll Giving to their staff. The campaign aims to double the amount raised by Payroll Giving for charities to £260m annually, by increasing the number of employees giving through pay from one million, to two million within the next five years.
Currently just 23% of the UK’s largest employers offer Payroll Giving. Donations made through Payroll Giving are tax free, making it an easy way to support a charity of your choice and your money goes further to help good causes. Donations are taken each month from an employee’s salary before tax; if you are a basic rate tax payer and donate £10 a month, the charity will receive £12.50 and the more tax you pay, the more they will benefit. A higher rate tax payer donating £10 a month will see their charity receive an impressive £16.67.
By increasing the number of employers signing up to the scheme, Geared for Giving hopes to make giving to charity through your pay a social norm in the UK, creating a vital steady income for charities while enabling people to easily support the charities and causes close to their hearts.
The campaign is funded by a group of the UK’s biggest employers, including ASOS, BT, Beaverbrooks, Experian, Linklaters LLP and The Entertainer. The heads of these companies are encouraging a culture of generosity by calling for every employer across the nation to follow their lead and offer Payroll Giving to their staff.
Read what the involved business leaders have to say about Payroll Giving in the full press release.