Charity

[DimPrawn]

Can I setup my ltd to donate to charity on a regular basis?

Does this avoid tax/NI and does it save paperwork compared to an individual making the donations?

PS. Can I setup a charity for hard done by IT Contractors?

[freakydancer]

Can I setup my ltd to donate to charity on a regular basis?

Does this avoid tax/NI and does it save paperwork compared to an individual making the donations?

PS. Can I setup a charity for hard done by IT Contractors?

The FreakyDancing fund is always looking for donations.

[Churchill]

Here's a charity type question...

Which organisation is second only to the National-Lottery in the amount given each year to Charities in the UK?

[DimPrawn]

The UK Muslim Foundation for the Support of Martyrs Against Infidel Pigs?

[Churchill]

The UK Muslim Foundation for the Support of Martyrs Against Infidel Pigs?

Good try but nope.

[DimPrawn]

Seriously, does giving to charity from a Limited avoid NI?

[oraclesmith]

Can I setup my ltd to donate to charity on a regular basis?

Yes. Limited companies can donate what they like to a registered charity. As far as I understand this does not attract any tax of any kind. It's not quite the same for unregistered (very small) charities.

Does this avoid tax/NI and does it save paperwork compared to an individual making the donations?

Yes, I believe so, for a registered charity. It will save you having to do a Gift Aid form for the charity and the need to add GAYE to your payroll. Also saves any additional payroll run needed to do the donation.

PS. Can I setup a charity for hard done by IT Contractors?

In theory yes, for a registered charity. If it has more than £5k per year income it can register and get Gift Aid. You will have to register it with Charities Commission and HMRC and appoint Trustees. It will be subject to inspection by the Charities Commission and HMRC, need auditable accounts etc. It's charitable objectives must be open to the general public (ie. not for the benefit of a defined group). This means that I, as an impoverished contractor, can come to your charity for a handout. If I'm refused I can make a complaint to the Charity Commission !

Happy to help !!!

[oraclesmith]

Seriously, does giving to charity from a Limited avoid NI?

It's a company donation from a limited company account - ie, out of profits. NI only relates to personal tax. eg. If Vodafone want to donate £1m to the NSPCC then NI etc doesn't even come into the equation. It's the same for small limiteds as it is for big ones. The donation must come from the company - eg. by company cheque and you should get a receipt for your accounts.

See http://www.hmrc.gov.uk/charities/donors/companies.htm

[DimPrawn]

Nice one. Will switch my personal donations to company ones so that **** Brown gets less and the charities get more!

[Sockpuppet]

Here's a charity type question...

Which organisation is second only to the National-Lottery in the amount given each year to Charities in the UK?

Government (gift aid?)