MAKE MORE OF YOUR GIVING AT BONUS TIME

If you’ve been awarded a bonus this year you may be considering donating some – or all – of it to charity, and asking yourself ‘How do I make the most of my money and ensure that the causes I support will make an impact?’

Making wise decisions now, before you commit any funds, ensures that the causes you support will be able to make the most of your generosity, and you can feel confident that your giving is informed and matches your plans.

We’ve put together some ideas on how you can give simply and effectively to charity.

MAKE A ONE-OFF DONATION

If you want to make a donation, our charity search can help you research a cause close to your heart. As well as connecting with you on a personal level, you might want to think about whether they’re relevant, sustainable, well-managed and offer a positive change for those they support. Our guide to charitable giving can help.

Once you’ve decided who to give to, you can make a donation by credit or debit card, PayPal or CAF Account, safe in the knowledge that we’ve validated the organisation to ensure your gift is going to a charitable project.

DONATE SHARES

If you’ve received shares as part of your bonus, you can put them to good use by giving or selling them to us, or by selling them yourself. You won’t have to pay any Capital Gains Tax on the shares you donate, and you’ll get Income Tax relief as well. We can put the proceeds into a CAF Charitable Trust for you to gift at a later date.

OPEN A CAF ACCOUNT

If you want to give, but don’t want to decide who to donate to now, a CAF Charitable Trust lets you create a charitable fund today and gift money or support social investment initiatives at a later date. It’ll give you time to create a long-term giving plan, while still having the convenience to make ad hoc donations when you want.

ASK YOUR EMPLOYER ABOUT PAYROLL GIVING

Payroll giving is the only way that higher rate taxpayers can automatically give an extra 40% to charity either through a one-off donation or regular giving. It reduces paperwork for you – no need to complete a Gift Aid declaration or include it on your self-assessment tax return - and for the charity, as there’s no Gift Aid admin.

f your employer offers a payroll giving scheme such as CAF Give As You Earn, ask them whether your gift can sponsor specific projects and if you’re able to monitor its progress.

MAKE A GIVING PLEDGE

Even if you’re not sure how much your bonus is going to be, make a verbal commitment to your colleagues, friends and family that you’re going to give a percentage to charity. It’s not legally binding and you don’t have to decide who to give to right away, but the more people you tell, the more likely you are to follow through on your promise.

If you want to talk to someone about how to get the most from your philanthropy, our specialist Advisors can support you every step of the way, from talking you through your strategy to helping you with your research. Call us on 03000 123 028 or complete our online form to arrange a meeting or an informal chat.