The Muslim community has been recognized for their remarkable generosity, with British Muslims raising over £1bn per year today, and that could grow to over £4bn by 2050.
Last year we wrote the first edition of the Ramadan Charity Clarity Guide and its core intent was to encourage charitable donations in a different way: donations that are well-informed and focused on creating a significant impact.
This year we have continued in that tradition but wirh significant changes. Rather than covering 20 organisations, we are covering just 5.
Our calculator is free and caters for all asset classes
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Simply input your assets and we will do the rest
Asset breakdown
View the zakat calculation, asset breakdown and tips so you know you are paying the right amount
Pick up where you left off
Save your portfolio details and next year you'll just need to update those that have changed
Donate your zakat to high impact, vetted charities
You can donate all or part of your zakat across 5 Muslim charities in IFG's carefully constructed high impact portfolio. Read our detailed guide to find out more.
*Please note we do not make any commision on zakat related payments.
Zakat (‘zakat al-mal’), the third pillar of Islam is a compulsory 2.5% tax on wealth that is above the Nisab rate.
Zakat is paid annually and towards certain charitable causes that are eligible for Zakat. Zakat can be paid in instalments but it is best to be pay it all together.
Nisab refers to a value/threshold set by the Prophet Muhammad (peace be upon him). When an individual’s wealth and assets exceeds the Nisab, they are required to give Zakat.
Yes – have a read of this article or comprehensive guide.
Yes but it depends, read a more detailed article here.
Zakat al-fitr is a separate form of zakat that is paid before Eid. Your local Mosque will take Zakat al-fitr and provide a recommended rate.
Zakat can be paid any time of the year but it is due on the anniversary of the last lunar calendar date that you paid it last.
Many people opt to pay their Zakat in Ramadan to double up on rewards.
In short, yes. Money that you have lent out and expect to receive back will incur zakat each year as normal, however it depends on the type of loan. Read our full article on this here.
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