Tax Consultant Carter Backer Winter
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Pride: Corporate business charitable donations

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To mark Pride month, Reshma Johar explains the minutiae surrounding corporate businesses making charitable donations.

18th Jun 2021
Tax Consultant Carter Backer Winter
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According to the Charities Commission, there are 162,000 registered charities in the UK. However, it is not clear how many charities are focused on LGBT+ causes.

Companies making charitable donations

Qualifying charitable donations are deducted before arriving at the taxable total profits. The deduction will be in the chargeable accounting period the cash donation or gift of an asset is made by the company. A company will be able to claim a deduction provided that the following conditions are met:

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Maytuna
By DJKL
18th Jun 2021 13:47

Though slighly off topic, readers ought to consider CAF re their company charitable giving or their personal charitable giving, it certainly saves a lot of time wading through personal accounts extracting details and avoids their accountant chasing around determining whether a payment actually is to a charity and whether gift aid applies if an individual.

It is very useful for clients who want to habitually pay say close to a fixed percentage of income/profits each year but need time to determine which individual charities they wish to benefit each year.

https://www.cafonline.org/giving-as-a-company
https://www.cafonline.org/my-personal-giving

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