Give as You Earn – GAYE
The most efficient way to donate money is is called Give As You Earn and has recently been revamped by the government to be a more tax efficient way of giving. For example if you pledge £10 from your gross salary, it will only costs you £7.80 (at the 22% rate of tax) or just £6.00 (at the 40% rate of tax), but we actually get £11 thanks to income tax relief and the Government adding an extra 10%. That is a staggering increase of 83%! You may also find out that your company offers to make a further donation to your contribution.