• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Does anyone here make charitable donations through their company?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

  • WordIsBond
    replied
    Originally posted by Jessica@WhiteFieldTax View Post
    Context, details and sector will be everything. Sometimes it’s possible, sometimes it’s not.
    In other words, give my accountant all the details and discuss with him.

    Leave a comment:


  • Alchemy Accountancy
    replied
    Originally posted by d000hg View Post
    Has anything changed in the last decade or so that means maybe it used to be a bad idea to give corporately but not isn't (or vice versa?)
    It used to be slightly more tax efficient (subject to a couple of assumptions) to make gift aid donations personally - this was to do with how the basic rate band extension worked along with the dividend tax credit (if my memory serves me right). Since the removal of the tax credit a few years ago, it is now slightly more tax efficient to make these donations via your limited company - the differences are pretty small in any case.

    Leave a comment:


  • Jessica@WhiteFieldTax
    replied
    Originally posted by WordIsBond View Post
    So, I've often thought about this one. I'm recognised as an officer of, and contribute regularly and sometimes heavily, to a not-for-profit community organisation which is not a registered charity.

    I've never done this through the company because it isn't a registered charity and because someone might try to argue that I'm 'benefiting' from the organisation. The latter would be a stretch, I'm putting far more in than I get out, I receive no remuneration, and any 'benefit' is self-satisfaction rather than anything measurable.

    Am I being overly cautious?
    Context, details and sector will be everything. Sometimes it’s possible, sometimes it’s not.

    Leave a comment:


  • Jessica@WhiteFieldTax
    replied
    Originally posted by northernladuk View Post
    Jessica... How you doin'?
    Funny you should ask...

    Been finishing the Masters from Hell, and in particular the final six months project squeezed into six weeks - because accountants have Plan Bs as well....

    ...and then I’m in hospital 24 hours out from a knee replacement...

    Apart from that grand

    Leave a comment:


  • northernladuk
    replied
    Originally posted by Jessica@WhiteFieldTax View Post
    Yes, registered several charities over the years, doing one now.

    An individual can’t set themselves up as a charity. But I think you knew that and were being ironic.
    Jessica... How you doin'?

    Leave a comment:


  • WordIsBond
    replied
    So, I've often thought about this one. I'm recognised as an officer of, and contribute regularly and sometimes heavily, to a not-for-profit community organisation which is not a registered charity.

    I've never done this through the company because it isn't a registered charity and because someone might try to argue that I'm 'benefiting' from the organisation. The latter would be a stretch, I'm putting far more in than I get out, I receive no remuneration, and any 'benefit' is self-satisfaction rather than anything measurable.

    Am I being overly cautious?

    Leave a comment:


  • Jessica@WhiteFieldTax
    replied
    Originally posted by northernladuk View Post
    Anyone know how and individual can set themselves up as a charity please?
    Yes, registered several charities over the years, doing one now.

    An individual can’t set themselves up as a charity. But I think you knew that and were being ironic.

    Leave a comment:


  • northernladuk
    replied
    Anyone know how and individual can set themselves up as a charity please?

    Leave a comment:


  • ContractorBanking
    replied
    I'm with you on this one - I was asking a genuine question, although I can see why you were nervous.

    Charity in question is a hospital we've all heard of and there's no personal benefit.

    Thanks for the advice, very useful.



    Originally posted by Maslins View Post
    Questions like this always make me a bit nervous. For normal donations to proper charities, you're fine. Inevitable caveat that if you (or anyone reading) is thinking about gifting a load of their company's money to their mate/mum/whatever who's really needy so sort of like a charity, then nope. There are no doubt some other specific exclusions for niche situations, in particular if you have some kind of relationship with the charity and/or get some kind of benefit in return for making the donation.

    Leave a comment:


  • vwdan
    replied
    I've given quite a bit to Ronald McDonald and the Childrens Hospital via my Ltd Co. I just make it clear it's from a company and don't do the gift aid thing.

    I'm not particularly fussed by the CT side, but it's lot better than faffing about with dividends and all that entails IMHO

    Leave a comment:

Working...
X