The Payroll Giving Quality Mark Gold Award means more than 10 per cent of Royal Liver employees make donations through the company’s Payroll Giving Scheme.
Tess Toole, Payroll Manager at Royal Liver, said: “This is a fantastic testament to our staff and to the responsible business strategy that we operate.”
The Gold Award was presented to Royal Liver by Payroll Giving in Action, the group that promotes this type of charitable donation in the UK. Tess continued: “At Royal Liver, we have made it as easy as possible for our staff to make donations to charity via the payroll, with support from the payroll team and electronic resources on our intranet site.”
Payroll giving is a tax-effective way to make donations; essentially it costs less to give more. The full donation is taken from the gross salary, which means the overall income tax liability is cut.
Tess explained: “For example, a £10 gross salary deduction would reduce the overall tax liability of a basic rate taxpayer (paying tax at 20%) by £2 so that £10 donation costs £8.”
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Picture caption: Tess Toole, Payroll Manager at Royal Liver Assurance, with the gold certificate.
For further information please contact Richard Edwards at Royal Liver Assurance on 0151 600 4268
Notes to editor:
- Royal Liver Assurance Limited is an incorporated Friendly Society and was founded in Liverpool in 1850. In 1911 it built and opened the landmark Royal Liver Building which continues to be its head office for its operations throughout the United Kingdom and the Republic of Ireland.
- Today, Royal Liver employs around 900 people, has approximately 3.4 million policies in force for 1.7 million members and manages more than £3.7 billion in funds.
- Royal Liver Assurance Limited is authorised and regulated by the Financial Services Authority and is a member of the Association of Mutual Insurers (AMI).
Royal Liver Group 2007 Royal Liver Assurance Limited is authorised and regulated by the Financial Services Authority.