Payroll Giving: More Information
What is payroll giving?
Payroll giving is a tax effective way to donate to The Lotus
Trust. This means that donations are made straight from your
salary, or occupational pension, before tax. The end result is
that it costs you up to 40% less. For example, if you donate £15,
the actual cost to you will be £9 (based on a higher rate
tax payer).
Why is it a good idea?
It is easy, effective and it costs you
less! For a higher rate taxpayer, payroll giving is the ONLY
way that a charity can automatically receive all your tax on
your charitable donation.
How can I sign up?
Signing up could
not be easier and can done in a number of ways:
- You can sign up downloading the payroll
giving form and
returning it to us by post.
- You can also sign up by approaching your employer directly. Your
payroll department should have the form that you need to fill
in. If not, please direct them to www.thelotustrust.org/payroll_giving.html,
where there are step by step instructions for companies to
start up payroll giving.
How does it work?
Once you
are signed up your payroll department is informed and they set
up a pre tax deduction from your salary. This deduction is sent
to the agency your employer is registered with and they send
the donations on to The Lotus Trust. Donations have to go through
this channel in order to be tax effective.
What if I want to change
my donation?
Payroll Giving is a flexible scheme.
Employees can change their donation amount, add new charities
or cancel their donations when they wish.
Benefits of donating
via payroll giving
Payroll giving is easy, flexible
and it costs you less. Payroll
giving makes it easy to manage your donation - as the gift is
deducted before tax, you never have to worry about paying it.
Your
payroll gift is also extremely valuable to The Lotus Trust. Your
regular support means that we can plan long term projects, reaching
as many people as possible. As payroll giving costs you less,
it also means that our supporters can afford to give The Lotus
Trust more, which makes a vital difference to the communities
who benefit form The Lotus Trust projects.
Why not ask your
employer if they will match your gift? Many do, and this helps
you to have your say about which charities your company supports
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