Do you donate to charities through Salary sacrifice?
Hello,
Was having a conversation with colleagues today and topic of charities and donations through salary sacrifice. Many of colleagues like me do each month.
Curious to how many currently do or have considered sacrificing to charities as part of reducing their income to below thresholds (alongside pension / cycle to work / other)? Or just straight up charity to cause you care about?
I’m a few years into the HENRY life after a series of promotions / rise in RSU value due to company doing well. I’m also a parent of two kids (3 and 1). Although I don’t sacrifice down for the child benefit (we decided to get a nanny for a number of reasons) I donate to a few charities each month including the school my first is at half the week. Some of my colleagues with kids also do the same (excluding the ones whose kids are at private school - fees are enough!).
Often feel the view towards high earners in the UK is we hold onto our cash and are tight with it and therefore must be taxed to the teeth.
Is there an unreported element where HENRYs also contribute to charities and not just fill their ISA’s and pensions? Does the system encourage you to donate? Is is something you have considered but not done?
Like many here I didn’t grow up with much, I’m not a big spender but facing decisions on what to do with my new found and unexpected income!
Thanks.