February is Payroll Giving Month and you can help CMV Action by asking one simple question to your employer – Do we have a Payroll Giving Scheme?
What is Payroll Giving?
Payroll Giving is an easy and great way to enable CMV Action to receive regular funds. Having a regular income stream from Payroll Giving allows our organisation to plan for the future.
It’s simple to set up, a safe way to give and allows you to control your giving as the amount you give each month is your choice and can be easily changed at any time.
Payroll Giving is also the most tax efficient way to donate.
What does tax efficient mean?
By donating to CMV Action directly from your pay it means there is no tax liability on your donation and you will pay less tax. It’s most efficient for higher rate taxpayers as you can give more at a lower cost.
It also supports us as it we receive funds quickly and are relieved of the admin associated with claiming gift aid related to your donation.
You will pay less tax!
The tax relief you get depends on the rate of tax you pay.
To donate £10.00 to charity it will only cost you:
£8.00 if you’re a basic rate taxpayer
£6.00 if you’re a higher rate taxpayer
£5.50 if you’re an additional rate taxpayer
(Scottish rates of tax are slightly different)
How can I set up Payroll Giving?
Payroll Giving is super easy to setup. Ask your Payroll department or HR team for information on how to do this. They will ask you to complete a consent form asking you to provide information about your how much you want to donate each month.
Charity Name. CMV Action
Charity No. 1171773
More Information
If you would like more information on Payroll Giving please take a look at these resources: