Andrew Tarpey, member of the Livery shares his reasons for giving to support the Haberdashers’ Foundation.
We all dream of winning the lottery. Boringly, the overwhelming reality is that instead of hoping for a windfall out of the blue, we should just make sensible, undramatic decisions and hold on for the long run. The same is true for businesses, and especially for charities, which are even more exposed to unpredictable income.
I’m not here to tell you how important the work of the Foundation is: you already know that and more evidence is in this publication. But I can tell you why I donate regularly to it. Small but regular donations feel less painful to my current account but are more reliable to the Foundation than one-off giving.
There is another benefit too. If, like me, you are a salaried drone, then your employer (or pension provider) may offer the Payroll Giving scheme – also called Give As You Earn. The key benefit of this for you is that your donation comes out of your pre-tax income and hence attracts tax relief at your top rate, i.e 40% if a higher-rate taxpayer; whereas paying via Gift Aid from your post-tax income is capped at 25% relief. So I can be more generous with my donation. This way I get the best of all worlds: I can give a bit more, pay a bit less, I have no admin hassle and I don’t notice the sum leaving my payslip every month. Fundamentally though I know that my donation, though modest, helps to secure the wonderful work the Foundation does in improving the lives of the young people under our wing.
There is an unexpected side-benefit too. Whenever I am approached by a “charity mugger” at the door or on the street, I have a polite, cast-iron reply to their pleas: I already support my favourite charities monthly, and I’m comfortable with my current level of giving. It’s kind, true, and closes the conversation rapidly. Works every time.
Andrew Tarpey
Member of the Livery
