Donations through Payroll Giving come out of your salary before it is taxed. A simple way to give, Payroll Giving is hugely valuable to us as it provides flexible income in a predictable way that allows Fairbridge to spend money on young people in the areas where there is most need.
If you pledge to give £25 per month to Fairbridge it will only cost you £19.50 if you pay basic rate tax or £15 if you pay a higher rate tax.
Nicola pays basic rate tax (22%). She pays £220 tax on taxable earnings of £1000 (after personal allowances, NIC etc). She makes a pledge of £25 for Fairbridge. This means her taxable earnings drop to £975 and only £214.50 tax is due.
She therefore saves £5.50 and the final cost to her is £19.50.