Beaverbrooks the Jewellers, who trade in watches and jewellery, have announced their support for the launch of a new phase of the national Geared for Giving Campaign that is calling for every employer in the UK with over 250 employees to offer Payroll Giving to their staff.
The campaign aims to double the amount raised by Payroll Giving for charities to £260m annually, by increasing the number of employees giving through pay from one million, to two million within the next five years.
Currently just 23% of the UK’s largest employers offer Payroll Giving. Donations made through Payroll Giving are tax free, which means that charities benefit by at least 25% more on top of employee donations. When it comes to higher rate tax payers, the benefits are greater still at 66% and 81% more on each donation.
By increasing the number of employers signing up to the scheme, Geared for Giving hopes to make giving to charity through one’s pay a social norm in the UK, creating a vital steady income for charities while enabling people to easily support the charities and causes close to their hearts.
The campaign is being backed by a group of the UK’s biggest employers, including ASOS, BT, Beaverbrooks, Experian, Linklaters LLP and The Entertainer. The heads of these companies are encouraging a culture of generosity by calling for every employer across the nation to follow their lead and offer Payroll Giving to their staff.
Mark Adlestone OBE, chairman of Beaverbrooks, which has over 30% of employees signed up to Payroll Giving said: “As an employer, setting up a Payroll Giving scheme is a simple, easy and tax-efficient way to encourage your employees to make a regular donation to their chosen charity – it really is a win-win situation for everyone involved. By signing-up to the scheme, employers can reap the benefits of a very engaged workforce when it comes to helping others, knowing they have made a positive difference to the wider community.”
Peter O’Hara, Geared for Giving founder and CEO, said: “We are on the verge of a dramatic transformation in employee giving. Payroll Giving in the UK already raises the annual equivalent to Children In Need and Comic Relief combined but it’s far from reaching its full potential where all employees can make a regular tax free gift, no matter how large or small, straight from their pay to any charity of their choice – from big household names to the smallest community organisations.
“There is huge appetite and with the backing of top business leaders and such a large audience to engage with, we are looking forward to growing the supporter base to spread the Geared for Giving message in workplaces across the UK.”