This Payroll Giving Month, we spoke to Shalini Khemka CBE, Founder, Chief Executive Officer, and Board Director of E2E, about the benefits of payroll giving and how it can help employees support charities closest to them.
Shalini, why do you think payroll giving is important?
I founded E2E to enable extraordinary entrepreneurship and help SMEs to flourish. Payroll giving has always been available within large corporates but only used by a small number of SMEs.
It’s such a powerful tool to help employees support the causes they care about, by giving money without paying tax on it. I strongly believe as many businesses as possible should be offering this opportunity.
How does it all work?
That’s the wonderful thing about payroll giving, it’s so simple to set up.
- Your business registers online.
- Your employees select the charities they want to support.
- Their donation is taken directly from their salary before tax.
As the donation comes out before tax it saves them money to give the same amount. For example, a 20% tax payer, would only pay 80% of the amount they want to donate.
What are the benefits?
There are benefits for both businesses and employees.
For businesses payroll giving can:
- increase employee satisfaction.
- strengthen your corporate social responsibility.
- make your company stand out to potential employees.
Some companies even choose to match fund their employees’ donations.
For employees the benefits are:
- It’s a tax effective way of making regular donations, it will cost you less to support the causes you care about.
- It’s quick, easy and ideal for busy people.
- It’s secure, the only person with your bank details is your employer.
And finally, from Cure Parkinson’s: regular and long term support through payroll giving enables us to fund the very best research to find a cure. Every piece of research funded by payroll giving will aim to slow, stop or reverse Parkinson’s. We won’t stop searching until Parkinson’s no longer exists.
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