In the lead-up to Christmas, Rosie Cooper MP is calling on businesses across West Lancashire to support charities in the area and beyond by signing up to Payroll Giving, a scheme that enables employees to give to charity through the payroll and get tax relief at the time. Businesses with less than 500 staff that sign up to Payroll Giving before 31st December 2006 will receive a cash payment of up to £500.
“Christmas is traditionally a time for giving to charitable causes. Payroll Giving offers even the smallest organisations with minimal budgets the chance to connect with charities that support the local community and to receive a cash payout of up to £500 at the same time. As the Payroll Giving Grants programme draws to a close, I hope to see local businesses embrace the scheme and provide that vital income stream for good causes.”
Payroll Giving enables employees to donate to any UK charity straight from their gross salary, giving immediate tax relief of up to 40%. As well as the cash payment to small businesses, the Payroll Giving Grants programme matches the first £10 donated by each employee up till March 2007.
As an additional incentive for businesses to get involved, January 2006 saw the launch of the Payroll Giving Quality Mark. Available to businesses of all sizes, the scheme provides all employers that sign up to Payroll Giving with a certificate, use of a logo and rewards those that achieve minimum level participation rates with Bronze, Silver or Gold Awards.
Key benefits of Payroll Giving are that it:
• Generates sustained, regular, reliable income for good causes
• Doubles the value of employees’ donations (up to £10) until March 2007
• Gives employees immediate tax relief on donations
• Rewards SME employers with a grant of up to £500
Each year, Payroll Giving raises £84 million for charities across the UK. The Payroll Giving Grants programme is administered and promoted by the Institute of Fundraising, funded by the Cabinet Office and supported by Business in the Community.