Charitable donations from ltdco?

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Fred Bloggs replied

8 July 2009, 14:37
Originally posted by RasputinDude View Post

Just a heads up on this - and please don't flame me if it's not accurate, but I was told by my accountant that the company can't claim tax relief on donations to a charity that you benefit from.

So, for example MyCo couldn't donate £5k to my Explorer Unit and claim the relief - which is real shame because we could do with some new kit!

Yes, I believe you maybe right. In our case the donation goes to the church diocese rather than the school. Presumably, the diocese divis out the donations in some manner related to the donors wishes.
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RasputinDude replied

8 July 2009, 14:24
Just a heads up on this - and please don't flame me if it's not accurate, but I was told by my accountant that the company can't claim tax relief on donations to a charity that you benefit from.

So, for example MyCo couldn't donate £5k to my Explorer Unit and claim the relief - which is real shame because we could do with some new kit!
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Fred Bloggs replied

8 July 2009, 10:44
Originally posted by moorfield View Post

Yep, this is why I'm asking. Our local playgroup is financially f*****d and needs some funds.

If it's a charity, no problems.
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moorfield replied

8 July 2009, 08:42
Originally posted by Evil Hangover View Post

The Inland Revenue will allow your ltd to claim tax relief on the gross amount, assuming they are UK registered. Check out the gift aid scheme

http://www.hmrc.gov.uk/charities/gift-aid.htm

Thanks for that, will take a look.
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moorfield replied

8 July 2009, 08:41
Originally posted by Fred Bloggs View Post

Yes, done this semi-regularly for the last 5 years. Keeps the kids school sweet, they are a registered charity.

Yep, this is why I'm asking. Our local playgroup is financially f*****d and needs some funds.
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Fred Bloggs replied

8 July 2009, 06:56
Originally posted by moorfield View Post

Is it possible to make charitable donations from my ltdco, ideally in lieu of corp tax, or are they classed as a pre-tax expense.

Yes, done this semi-regularly for the last 5 years. Keeps the kids school sweet, they are a registered charity.
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Menelaus replied

7 July 2009, 18:46
Interesting problem, charities.

I'm in the process of buying a property specifically on behalf of a UK registered charity which I will pay for but they will have rights to whilst I'm out of the UK (for the next 5 - 10 years) and the capital appreciation of which will be attributable to their balance sheet: the effect is no stamp duty.
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Evil Hangover replied

7 July 2009, 17:28
The Inland Revenue will allow your ltd to claim tax relief on the gross amount, assuming they are UK registered. Check out the gift aid scheme

http://www.hmrc.gov.uk/charities/gift-aid.htm
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moorfield started a topic Charitable donations from ltdco?

7 July 2009, 15:11
Charitable donations from ltdco?

Is it possible to make charitable donations from my ltdco, ideally in lieu of corp tax, or are they classed as a pre-tax expense.
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