**Special offer – we will be giving our Charity of the Year an extra £10 for every new person who signs up to donate to Prostate Cancer UK via payroll giving. Simply complete the online form or paper form and Royal Mail will give an extra £10 on top of your donation. Offer ends March 2013**
Find out more by reading our Payroll Giving Special £10 Offer frequently asked questions.
By pledging your support to the Charity of the Year programme, you will be committing to support Prostate Cancer UK and all other future Charity of the Year partners voted for by colleagues. You can, however, opt out at any time by completing a new payroll giving form.
For the purpose of this Charity of the Year programme, which runs until 2014, it is Prostate Cancer UK that will be entitled to receive matched giving from Royal Mail.
Royal Mail will match every penny donated on a first come, first served basis up to £100,000 a year, over the next two years.
How does it work?
- A regular donation is deducted from your gross pay before your tax assessment. If you are paid weekly, you will donate weekly, and if you’re paid monthly, you will donate monthly
- This means if you pledge £1 from your pay every week, it will cost you only 80p; or if you pledge £4 from your salary each month, it will cost you only £3.60 (based on those paying 20% tax)
- Royal Mail will automatically match any donation you make to Prostate Cancer UK. So if you pledge £1 per week, Royal Mail will also pledge £1 per week.
- Payroll giving is open to any individual paid through PAYE.
- Donations can be made to any national or local charities and recognised good causes, such as places of worship, schools and scout groups.
Standard payroll giving
By donating money through payroll giving your donation will include the tax that would have been deducted from your pay. Instead of the tax going to the Treasury it will instead go to your selected charity.
If you choose to donate through payroll giving to Prostate Cancer UK, Royal Mail will also match your donation, penny for penny. It will match your full donation including tax.
If you pledge £1, 80p will be deducted from your salary. Royal Mail will match your £1 pledge so that £2 will be donated to Prostate Cancer UK.
Matched giving is only applicable to donations made to Prostate Cancer UK.
Check out the table below to see how using payroll giving to donate money maximises the amount received by the charity.
|How much you pledge||Amount deducted from your salary if you pay basic 20% tax||Amount matched by Royal Mail if donating to Prostate Cancer UK||Charities Trust administration fee||Amount received by the charity|
*Matched giving is only applicable to payroll giving donations made to our Charity of the Year, Prostate Cancer UK.
** Royal Mail Group’s payroll giving agency, Charities Trust, charges a nominal 25p per month per donor to cover administration costs, up to a limit of £3 a year in total. Any surplus funds left from these administration charges is used to increase tax effective giving or is donated back to the charitable sector.
Donations can be made to any national/local charity or recognised good causes such as places of worship, schools and scout groups.
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