‘Every Penny Helps’ allows you to donate the pennies from your pay to charity. In other words, to round down your net salary to the nearest whole pound. It will never cost you more than 99 pence per month.
As the pennies are removed from your post-tax pay, they may also be eligible for a Gift Aid enhancement.
Participating employees will have the pence deducted from their net pay by payroll on pay day.
For example, if you had a net pay of £978.60, you would retain £978.00 and the 60p would be deducted.
Your deductions will be collected along with those of your colleagues also participating in the scheme, and stored in a Charitable Giving Corporate Options Account managed by your employer.
Charitable Giving will claim the 25% Gift Aid on the deposited funds, which is then credited to the account. With the Gift Aid enhancement your 60p donation could increase to 75p, provided you have completed a Gift Aid Declaration and paid sufficient tax on your income and/or capital gains.
Your employer chooses when to donate the funds and to which charity(ies).
Contact your payroll department to enquire if your employer operates an 'Every Penny Helps' scheme with us.
To sign up complete an Every Penny Helps Employee Sign-up Form, available in Downloads.
Completed forms should be sent to your payroll department to enable the deductions to begin.