Join the Payroll Giving scheme
Payroll Giving is one of the most tax effective ways to give to charity. The charities that your employees choose do not have to put in additional resource to recoup the tax. This page guides you to set up a Payroll Giving scheme.
The steps in setting up a Payroll Giving scheme are very easy; in the left hand sidebar of this page you will find a PDf file, required by law to setup a Payroll Giving scheme.
To sign up you to need to complete:
- The Charities Trust Payroll Giving agreement. This is a formal agreement which confirms that your company is using this Charities Trust service to administer tax effective donations on behalf of your company and employees.
- A Tax Registration form. Your company specifics are required on this form. This informs HMRC that your company is deducting tax effecient donations on behalf of employees.
Once both forms are completed and returned to Charities Trust you are then ready to deduct donations from your employees' pay.
How to promote your Payroll Giving scheme
There are several ways in which you can promote your Payroll Giving scheme. In our expereience, using all avenues of communication, whether face to face, electronic or paper based will ensure your company engages with all employees.
If your company also has employees who are in the new 50% tax bracket, Payroll Giving is by far the most tax efficient way of giving to good causes. For example, giving £10,000 will cost the employee just £5,000 and for 40% tax payer it is still the best way to give with £10,000 costing the giver £6,000. This is also a good way of promoting the benefits within your offices.
For ideas on the best ways to promote and engage with your employees go to Promote Payroll Giving.
If you would like to discuss specific needs and/or further assistance, or if you require advice on the best ways to reinvigorate your current scheme, email info@charitiestrust.org or telephone Charities Trust on 0151 286 5129.
Giving Payroll Giving - The Xtra Factor
It is 24 years since Payroll Giving was introduced to employees as a tax effective way to give from Read more…
Promoting Payroll Giving to employees
Whilst providing a payroll giving service to your employees is one thing, encouraging them to sign Read more…
