Find out everything you need to know about Zakat
Zakat, also spelled Zakah or Zakaat, is one of the five pillars of Islam and an act of worship. The meaning of zakat is “to purify” and so to purify our own wealth all Muslims are obliged to pay a portion of one’s assets to help those in need. Zakat benefits the giver as well as the receiver.
All Muslim adults who are sane and possess the nisab (a minimum amount of wealth held for a year) should pay Zakat.
The nisab is a minimum amount of wealth that a Muslim must possess for a whole year before zakat becomes due.
Nisab can be determined in terms of gold or silver – The current value of Nisab in Gold is £2902.28 and in Silver is £250.04
Although there are no specific guidelines in the Holy Qur’an on exact percentages to be given as Zakat, the customary practice is to give 2.5% on capital assets. On agricultural goods, precious metals and livestock, the rate varies between 2.5% and 20%.
You don’t have to do lots of complicated maths to work out your Zakat payment – simply use our simple Zakat Calculator UK
After using Zakat Calculator UK, you can donate your zakat to any of the suggested zakat-applicable plans or choose your own project at Penny Appeal
Zakat Calculator UK includes all relevant zakatable assets. These include cash, shares, pensions, gold and silver, business goods, crops and cattle and income from investment property. Personal items such as home, furniture, cars, food and clothing (unless used for business purposes) are not included.
The Holy Qur’an tells us who may benefit from zakat:
Zakat is payable as soon as the nisab (minimum amount of wealth) has been held for a lunar year. If the date of first becoming sahib-un-nisab (owner of wealth equal to or in excess of nisab) is known then use that as your Zakat date, if not a date may be chosen. Some people choose to pay their zakat during Ramadan in recognition of this special time of year and because rewards for good deeds carried out during Ramadan are multiplied. However, it is our duty to pay zakat when it becomes due rather than delay payment and wait for Ramadan. Wealth can fluctuate during the year, going above and below nisab. Zakat is only due if wealth is in excess of nisab at the end of a person’s Zakat year.
Yes, zakat can be paid monthly by setting up a regular monthly payment such as a direct debit. Penny Appeal can help you to do this with our zakat-eligible sponsorship programmes, suitable for a range of zakat levels. These sponsorships can change lives and help build futures. Find out more about zakat-eligible sponsorships.
Zakat can be spread throughout the year, for example by setting up a monthly direct debit. However, the total amount payable must be paid by the due date.
If Zakat has not been paid in previous years, whether through negligence or ignorance or error, then an honest attempt must be made to calculate the payment owed. This must then be paid as a matter of urgency.
Yes! Gift Aid is a valuable tax concession that does not cost donors a penny. It enhances the value of donations made to registered charities by 25% and can be made by all UK tax payers. It is simple to allow Penny Appeal to claim Gift Aid – just tick the box on the web page or form when you make a donation.
Tola is a unit of weight used in the Asian Subcontinent that is equal to the weight of a silver rupee. It is also known as bhori or vori. One tola is equal to 11.66 grams. Therefore, 87.48 grams of gold is equivalent to 7.5 tola.
Donate your Zakat with Penny Appeal and give 100% of your Zakat to those in desperate need.
Sponsor an orphan and provide everything they need for a happy childhood and a brighter future.
Support an orphan to become Hafiz of the Holy Qur'an and gain immeasurable rewards.
Build a well and provide safe water for drinking, washing and watering crops.
Provide nutritious meals to orphans, widows and the elderly