Planned giving continues to grow, says Charities Aid Foundation
Howard Lake | 11 November 2004 | News
Regular, planned giving to charity is growing healthily, according to new figures from Charities Aid Foundation (CAF).
On the day of its annual charities conference , CAF reports that donations through payroll giving rose from £86 million in 2002/03 to £91 million in 2003/04. With around 60% of the UK’s 250 FTSE companies operating a payroll giving scheme, about 5 million
employees now have access to this form of giving.
Of course, payroll giving received a valuable boost from the government between 2000 and 2004 when all donations through the scheme were given a 10% top up. Nevertheless other forms of planned, tax-efficient giving have also seen significant increases.
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Gift Aid has seen strong growth: between 2002/03 and 2003/04, Gift Aid donations rose to £2.7 billion, an increase in real terms of 12%. Over £580 million of this represented tax reclaimed from the Inland Revenue. In addition, higher rate taxpayers, who can reclaim 18% tax on their donation for themselves, received £310 million in tax relief during 2003/04.
CAF’s Chief Executive, Stephen Ainger, said: “We’re beginning to see the beneficial
result of charities investing in systems for Gift Aid. The added value to charities of gifts which are made through regular, tax-efficient methods cannot be overstated.”
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.