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EFFECTIVE AND EASY: Payroll Giving works at work.
Available since 1987, and 9,000-odd businesses do it, but Payroll Giving is still under-used in the UK, probably because it just sounds like hard work.
Newsflash: Payroll Giving really is easy and can be good for your business too. It shows that you are committed to supporting the community, which is important to customers and staff. Also, it can help to build better employee relations. It is inexpensive to run, and you get a deduction against your profits for your costs.
How does it work? Simple: Your employee asks you to deduct regular charitable donations from their pre-tax pay, so they get tax relief straight away at their top rate of tax. You pass the donations to a Payroll Giving agency, who do the rest. There are three government approved agencies in the UK.
To the businesses who are members of our corporate philanthropy scheme, ‘The Cornwall 100 Club’, we recommend The South West Giving Trust (01822 611 180) because they offer a reduced fee of 3% to all businesses who give to Cornwall through The Cornwall Community Foundation.
Employees are of course free to give to whichever charity they chose, but businesses running Payroll Giving find that it creates good feeling and increased involvement for everyone to agree on a nominated charity. Often businesses set up a committee to distribute the funds, and The South West Giving Trust offer a company account to manage all donations raised through payroll giving and other activities – and Directors generally match-fund the pot at the end of the year.
The minimum staff give is £1 per month, the average is £5. In a company of 100, that would equate to £7,200 in one year including Gift Aid. For most of the community groups and projects we support, that kind of money would go a very long way.
