TAX EFFICIENT GIVING
TAX EFFICIENT GIVING
GIVE AS YOU EARN
Give as you earn (also known as Payroll Giving / Workplace Giving) is a flexible scheme which allows a UK tax payer to give regularly to The Friends of FBS on a tax free basis through their Employer's payroll process.
GAYE donations are deducted before tax so each £1.00 you give will only cost you 80p, and if you're a higher rate tax payer it will only cost you 60p.
This is a valuable, long term source of revenue, providing regular income to help us budget and plan ahead more effectively and it's cheaper because it's tax free - for example, a donation of £5 per month costs the basic rate tax payer £4.00. GAYE is a particularly tax efficient way of giving for higher rate taxpayers as this is the now the only way to pass on your 40% or 45% tax to charities. Only 28% can be recouped via other ways of giving.
Find out more from HMRC
Many employers will match the funds that their employees donate / raise for charitable causes. As a registered charity, The Friends of FBS is eligible for these kinds of programmes. They work in different ways from one company to another: some will match the money you raise pound for pound, others will have a top limit. You may even find that your company will give you time off for charitable causes, or will offer resources like printing for newsletters.
A number of our own parents have been able to generate extra funds for the school by doing this, so it's well worth enquiring to see if this is something that your employer offers. Generally speaking, banks and building societies, insurance companies, supermarkets, utilities providers, energy and phone companies and car manufacturers are the kind of organisations that may have these programmes in place. They're likely to give you a request form so that they know exactly who we are and what fund raising work you've done. Other than that, there's usually not much paperwork, so please do ask your employer.
If we can help with anything please get in touch.