Great comment—I’d add that usually GWWC pledges in the UK are based on pre tax so it wouldn’t actually cost the full £5k. Donations reduce your income for income tax purposes (but not NI) - Payroll Giving (UK) or GAYE—EA Forum (effectivealtruism.org)
ie.
£50k salary
£3.75k donation which is grossed up by 25% from your taxes with gift aid to £5k
If you actually donated £5k then that would be a £7.5k total donation when grossed up with gift aid.
However, the higher rate tax (40%) band starts at ~£50k a year so every £1 donated above that costs 60p
Great comment—I’d add that usually GWWC pledges in the UK are based on pre tax so it wouldn’t actually cost the full £5k. Donations reduce your income for income tax purposes (but not NI) - Payroll Giving (UK) or GAYE—EA Forum (effectivealtruism.org)
ie.
£50k salary
£3.75k donation which is grossed up by 25% from your taxes with gift aid to £5k
If you actually donated £5k then that would be a £7.5k total donation when grossed up with gift aid.
However, the higher rate tax (40%) band starts at ~£50k a year so every £1 donated above that costs 60p
(Working on a longer explainer on this which updates this piece UK Income Tax & Donations — EA Forum (effectivealtruism.org) but you can check out the underlying spreadsheet which create these graphs here: UK Income tax (including NI) - Google Sheets)