Payroll Giving Week (8-14 Feb)


February 09, 2021

COVID-19 has affected our lives in so many ways and has hit many industries really hard, so as we commence Payroll Giving week, we would also like to think of those who have been furloughed or for those who have lost their jobs during these very challenging and stressful times.

As a small charity, we are always looking at finding new ways of raising money so that we can provide hope for our impoverished mothers and their children and this week sees the launch across the Charity sector of the FIRST EVER Payroll Giving Week also known as Give As You Earn (GAYE)
 

What does Payroll Giving mean?
You donate straight from your pay before tax Donations are taken before tax, which means The Sreepur Village gets more of your donation and it costs you less. It also means that charities don’t have to claim Gift Aid, so there’s less admin for them – and they can get on with supporting their beneficiaries. You can give to any organisation recognised as charitable by HMRC.

How is Give as You Earn tax-effective? How Is It Calculated?
If you are a 20% taxpayer, 80% of your donation amount will be taken from your salary and 20% will be taken from the tax which would have gone to HMRC.
A £20 donation will cost you £16 - but the charity will still receive £20 because the £4 which would have otherwise gone to the tax man goes to the charity. Please note: these calculations are made at 2013/14 tax and National Insurance contribution rates and based on standard assumptions on tax breakdown. There are many other possible variables which have not been considered here.

If you would like to find out more about Payroll Giving, then please click here

We really do appreciate the many many ways in which our supporters help keep our mothers and children safe, out of poverty and empowered with the tools for a brighter future.

So thank you, it means the world to our families living in The Sreepur Village.


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