A fast, easy and tax efficient way to support Coach Core’s work
If you’re a UK tax payer, payroll or workplace giving is a tax efficient and easy way for you to support Coach Core’s work as your donation comes from your salary before tax is deducted, and the Inland Revenue passes the tax relief to Coach Core.
Every £1 you give will only cost you 80p (or if you’re a higher rate tax payer, 60p) and the taxman pays the rest! So if you pledge £10 a month, we receive the full amount, but only £8 will be deducted from your net pay.
If you receive income tax at the higher rate of 40%, only £6 would be deducted from your net pay. It’s more efficient for higher rate taxpayers to donate through payroll giving than gift aid as charities are unable to claim back tax above the basic rate through the gift aid scheme.
There are also other benefits:
- Ease – It’s easy to set up.
- Pay less to give more – It’s the only way to give that allows full tax relief on donations.
- Privacy – We don’t need your bank details as the donation will come straight to us from your salary. You will see it on your payslip
- You’re in charge – You can change or stop your donation at any time by contacting your payroll department.
- If you leave your employment – your donations automatically stop, although hopefully you will continue to support Coach Core in your new workplace.
Payroll giving is available to everyone who pays UK income tax and is employed by a UK organisation. Check with your employer whether they are registered and if not, it’s easy for them to set up.
Setting up payroll giving at your company
Payroll giving is great for your company’s image and increasing staff morale, retention and recruitment. The scheme also boosts your charity giving easily (and at little cost to you), while letting you see the amount of money your staff are raising.
To offer the scheme, employers need to be registered with a Payroll Giving Agency (PGA). It’s easy and free to set up.