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.
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.”
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