The Jersey branch of an international bank is one of the first in Jersey to set up a payroll-giving scheme.
It takes advantage of new States rules which means charities can benefit from tax relief on donations of £50 or more per person.
Standard Bank has launched the scheme so staff can automatically donate a percentage of their earnings to a charity, making the most of the tax advantage which means a good cause gets an extra 25p for every £1 donated.
The bank’s 220 staff at its headquarters in La Motte Street will be able to support two island charities in 2018: Caring Cooks of Jersey and Island Aid for World Children.
Melissa Nobrega, Chief Executive Officer of Caring Cooks of Jersey, said: “A donation of just £5 a month equals £75 a year, which includes £15 from the Taxes Office, and that will pay for a child to take part in our successful Let’s Get Cooking programme, which delivers food and nutrition education to primary school children.”
“Since the States’ policy changed, we’ve been trying to encourage businesses to come on board. Standard Bank is one of the first to introduce a full scheme and I hope that other firms in Jersey follow its inspiring lead.”
Alan Cameron, Co-founder of Island Aid for World Children, said: “We have a number of important projects in Ghana so I’m delighted that Standard Bank, with its home in Africa, has chosen us as a partner. With the support of donations from staff, islanders will continue to help children in the developing world get a better start in life.”
Tina Monro, Head of Human Capital at Standard Bank Jersey Limited, said: “Having a positive social, economic and environmental impact, both in Jersey and across Africa, is at the heart of Standard Bank’s philosophy so we were very keen to give our staff the opportunity to do more.”
Payroll giving has existed in the UK for years, but has only just been made available in Jersey so long as the accumulated amount per employee over 12 months is £50 or more.
