Contributions to a charity

[Paddy]

Just wondering whats the best way to contribute to a charity?
From my business bank account or my personal bank account?
Looking for any possible tax breaks and other implications and which is best method to use?

Any ideas?

There’s nothing stopping you from starting up your own charity, for example stray cats in Cyprus. Use the expenses to fly out there, stay in a five star hotel and donate a box of cat food for the local stays.

I’ve done work for a few charities, all of them are great money spinners.

[Turion]

Just wondering whats the best way to contribute to a charity?
From my business bank account or my personal bank account?
Looking for any possible tax breaks and other implications and which is best method to use?

Any ideas?

Sounds like he's punching above his rate on his current contract. Too much to spend? I never have that problem. My wife see to that.

You can always contribute to a new contractor charity called 'The Big Bench'. This is for those misfortuneate enough to have been benched due to circumstances beyond their control, and the aim is to enable them to continue to maintain their current living standards whilst looking for new opportunities. You know it makes sense.

[thunderlizard]

I looked into it once & if you own 100% of the company, there isn't much difference in the long term. Certainly not enough difference to be worth mixing up company money with personal money!

[Ardesco]

So u mean if I pay 100£ from my personal account to 'Charity X'
then it actually receives 128.2£??

Yup

Lovingly paid for by you as a tax payer

HTH

Best way is through an anonymous donar.
Put the money into a brown paper bag, and leave it on the Third park bench at Stoke Park, Guildford at 12:00 tomorrow and, I'll see to it that it gets to the right charity.

Thank you .Very helpful indeed!

[cykophysh39]

Best way is through an anonymous donar.
Put the money into a brown paper bag, and leave it on the Third park bench at Stoke Park, Guildford at 12:00 tomorrow and, I'll see to it that it gets to the right charity.

[Alan @ BroomeAffinity]

Provided you complete the gift aid form, then yes.

Better for you, or better for the charity?

If you contribute from your personal account it is eligible for gift aid (an extra 28.2% added to the donation).

If you donate from your company account it isn't, but you won't pay CT on it.

So u mean if I pay 100£ from my personal account to 'Charity X'
then it actually receives 128.2£??

[Ardesco]

Better for you, or better for the charity?

If you contribute from your personal account it is eligible for gift aid (an extra 28.2% added to the donation).

If you donate from your company account it isn't, but you won't pay CT on it.

Just wondering whats the best way to contribute to a charity?
From my business bank account or my personal bank account?
Looking for any possible tax breaks and other implications and which is best method to use?

Any ideas?