Mike Hancock, MP Calls On Local Businesses To Support Charities In Portsmouth By Signing Up To Payroll Giving
“…and receive a cash payout of up to £500 at the same time.”
06/12/2005
In the lead-up to Christmas, Mike Hancock, MP (Lib Dem – Portsmouth South) is calling on businesses across Portsmouth 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 the end of 2006 will receive a cash payment of up to £500.
Mike Hancock said: “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. Payroll Giving is good for business and a real benefit to offer employees. 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 every for a period of six months. As an additional incentive for businesses to get involved, January 2006 will see 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) for the first six months,
· Gives employees immediate tax relief on donations and
· Rewards SME employers with a grant of up to £500.
Each year, Payroll Giving raises £95 million for charities across the UK. The aim of the Grants programme is to provide sustainable income sources for charities by increasing the number of employers and employees engaged in Payroll Giving. The Payroll Giving Grants programme is administered and promoted by the Institute of Fundraising, funded by the Home Office and supported by Business in the Community.
Notes:
1. The Payroll Giving Grants programme (www.payrollgivinggrants.org.uk) is administered and promoted by the Institute of Fundraising with funding from the Home Office and support from Business in the Community. The programme consists of two parts: a one-off grant of between £300 and £500 for employers who sign up to Payroll Giving before December 06 (tiered according to the number of employees); and a matched gift of up to £10 per month for the first six months from when an employee signs up, from the Government for each new payroll giving donation. Matched donations apply during the first six months of an employee’s gifts, until the end of the programme in March 2007.
2. The Institute of Fundraising (www.institute-of-fundraising.org.uk) represents fundraisers and fundraising throughout the UK and is committed to the highest standards in fundraising management and practice. The Institute of Fundraising is the largest individual representative body in the voluntary sector with 4000 individual members and 200 organisational members. Registered charity no. 1079573, company limited by guarantee no. 3870883 and VAT registration no. 547 8930 96.
3. Payroll Giving enables employees to donate to any UK charity straight from their gross salary, giving immediate tax relief. The new grants programme, matching donations of up to £10 from each employee every month, for the first six months after they have signed up to the scheme, is a real incentive. This means that £10 donated each month would be worth as much as £20 to the charity and yet it will only cost employees paying basic rate income tax £7.80 (or £6 for higher rate taxpayers).
