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It’s Payroll Giving Week! But what is payroll giving?
Payroll Giving Week 7th-13th February
Payroll giving is a successful form of individual giving used across the globe. The method of donating is simple: payroll giving donations are taken from pay before tax. A donation of £5 a month would actually cost an employee £4 from their take-home pay (if they pay 20% tax) or £3 (if they pay 40% tax).
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Over 1 million people donate to charities through their pay and together they have raised over £2billion for good causes.
For charities, payroll giving provides an unrestricted source of regular income for the cause, and when they receive donations through payroll giving there is no need to apply for Gift Aid, saving money and time.
It's quick and easy for an employer to set up the scheme and if you have a scheme set up in the work place it opens up the opportunity to win a National Payroll Giving Excellence Award,plus it also offers the chance to gain recognition of your payroll giving scheme with a Quality Mark and stand out from other businesses. For employees it is easy to set up, amend and cancel and it costs them less to donate.
Find out how to set up payroll giving at your workplace and get some top tips on promoting payroll giving here.
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