How I Invest in the Stock Market – Part 4

Charitable & Payroll Giving

The above are great ways to give to your favourite charities or a cause you support. I am a Christian and decide to give 10% of my gross earnings (pls do not try and get me into an argument about gross or net giving. I will not engage. Do what your beliefs tell you) towards God’s work in the city and UK (and yes UK – this is where I live).

My giving is done through payroll which implies I have more take home pay compared to giving after tax.

During the financial year (in the UK between 06 April to 5th April the next year), I keep a record of all my charitable giving and write a letter to the HMRC claiming tax relief on this. This is usually applied to my personal tax code for the year or in some cases, I may get a refund.

I believe, God is not worried how I give to His work, He is more concerned about the heart attitude towards it. Also, do I ever sit and hope I can use the money for something else, yes I do. It would serve no purpose to my faith if it did not feel like a sacrifice. I have made it a point to pray over my tithe (albeit it being done at payroll and in my absence) for the blessings and protection of God as declared in His word to be over me.

How To

Check with your HR/Payroll if they offer payroll giving – it is either termed GAYE (Give As You Earn) or Charitable Aid Foundation Giving or Payroll Giving.

Confirm Charity Number for your chosen charity.

Sign up.

Note: There is a token admin fee but from my experience, most companies foot this bill.

Happy Giving. Happy Saving. Happy Being Tax Efficient

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