WightAID Urges Island Businesses To “Give Smarter” As Tax Year End Approaches

WightAID, the Isle of Wight charity known for directing hundreds of thousands of pounds into local good causes, is calling on Island businesses to think smarter about their charitable giving — and potentially make their money go further at no extra cost.

The organisation works by distributing funding to hundreds of small charities and community groups across the Island, supporting vulnerable people and strengthening local services every day.

Now, with the end of the financial year approaching, WightAID says it’s the ideal time for businesses to review their accounts and consider how they can maximise both their social impact and tax efficiency.

The charity points out that donations made before the tax year ends can usually be deducted from a company’s taxable profits, meaning businesses may be able to reduce their tax bill while supporting local causes.

Depending on profits, corporation tax rates currently range between 19% and 26.5%, and WightAID says that can translate into significant savings.

For example, a £500 donation could cost a business around £405 after tax relief. A £1,000 donation could effectively cost £750, while a £5,000 contribution could bring the net cost down to around £3,675 — all while delivering a major boost to Island community projects.

Sole traders and partnerships may also be able to benefit through Gift Aid, allowing WightAID to claim an additional 25% on eligible donations. Higher and additional rate taxpayers may also be able to claim further tax relief through their personal tax return.

WightAID founder Geoff Underwood said the scheme allows businesses to make a wider impact than supporting a single cause.

He said donations are distributed where they are needed most across the Island, helping charities, community groups and local services that directly support residents.

He added that it is also an opportunity for businesses to strengthen their social responsibility and reputation within the local community.

WightAID says whether it’s £500 or £5,000, even modest contributions can make a real difference to Island life — while also offering potential financial benefits for businesses.

Anyone wanting more information about becoming a WightAID partner or making a donation can contact admin@wightaid.org or call 555915.