Skip to main content

Charitable Donations


Do you have a charity close to your heart? Most people do. Perhaps they have supported you personally or maybe they support a cause you feel strongly about. Whether you run marathons, bake cakes, dress up in silly outfits or shave your head for your worthy causes, did you know that if you make a donation through your company, you can reduce the amount of Corporation Tax you pay as a charitable donation can be claimed as an expense.

This is good news on multiple levels.

Not only can you reduce your tax bill (which no one has ever complained about!), but you can also get your whole team involved which could ultimately lead to more money for your chosen charity. There are so many ways your company can incorporate donations into their normal working day.
  • Donate for every customer satisfaction survey completed
  • Donate for every new client you bring on board
  • There are even companies that donate 1p for every email sent
  • Charity Christmas balls for the staff
  • Donate a product or service to the local raffle
  • Sponsor a local sports team

Get creative with your fundraising ideas!


For the claim for charitable donations to be eligible for tax relief, the following criteria need to be met:
  • Your company must be making a profit
  • If you receive something in return, such as a ticket it must be below a certain amount you have donated

Personal Donations

If you are a higher taxpayer, or your donation exceeds your company’s profit then a personal donation might be a better option for you.

Personal Gift Aid donations are worked out using the net rate of tax rather than gross. Your chosen charity can then reclaim that amount from HMRC.


If you would like to discuss this information any further, please don’t hesitate to contact us.

 info@togetherwecount.co.uk

www.togetherwecount.co.uk

https://g.page/Together-We-Count-Limited?gm


01273 569088
0114 400 0119



Labels:

Comments

Post a Comment

Popular posts from this blog

More Information- CJRS and SEISS

As we start another week,  I felt it was important for me to share the latest updates with you regarding the Coronavirus Job Retention Scheme and the Self-Employed Income Support Scheme. HMRC Recovery Powers HMRC have put together the draft legislative package to reclaim payments under CJRS and the Self-Employed Income Support Scheme. This is subject to a HMRC consultation which comes to an end on 12th June. Under the draft legislation, HMRC will have the power, by way of a 100% tax charge, to recover payments which were either: Not due Not used to pay wages and PAYE Not used to make pension contributions Penalties will be imposed where there has been deliberate non-compliance. This comes at the same time as HMRC have notified that, to date, they have picked up on nearly 2,000 fraudulent CJRS claims to date. This is, in part, due to ongoing calls to their Fraud hotline number 0800 788887 and also through their online whistle-blower report webpage. Big reminder – 10th June last dat...
Post a Comment
Read more

Statutory Sick Pay Rebate Scheme (SSPRS)

What is the aim? To support employers facing heightened levels of sickness absence due to Covid-19. What does the SSPRS do? It will refund small and medium-sized employers Covid 19 related statutory sick pay (SSP) costs up to 2 weeks per employee. What is the eligibility criteria? Aimed at UK based employers. They employed fewer than 250 employees as of 30th November 2021. They had a PAYE payroll system as of 30th November 2021. At the time of the claim, they have already paid their employees Covid -19 related SSP. Employers can claim for Covid 19 sickness absences occurring from 21st December 2021 onwards. The 2 week limit is to be reset, so an employer will be able to claim up to 2 weeks per employee, even if they claimed for that employee under the previous SSPRS. How do you claim? Employers will be able to make the claim, through HMRC, from mid-January onwards using the website below: Claim back Statutory Sick Pay paid to your employees due to coronavirus (COVID-19) - GOV.UK (www.g...
2 comments
Read more

Newsletter 22/02/2021

Today’s newsletter is to update you on few things including the VAT Deferral New Payment Scheme and an interesting tale of two Uber drivers who went to the Supreme Court over worker rights and what the outcome could mean for businesses going forward. I should image after BoJo’s announcement later today and the fast-approaching budget, we’ll have another newsletter out soon. The National Debt Support Fund The Government have now set up a facility for individuals and presumably businesses to make voluntary donations to help pay down the National Debt or to be used for public expenditure. If that is of interest to either you or anyone within your client base please see the link below: Voluntary payments / donations to government - GOV.UK (www.gov.uk) The VAT Deferral New Payment Scheme Who is it aimed at? Businesses who deferred their VAT payments due between 20th March 2020 and 30th June 2020 and have yet to pay it over to HMRC. What 3 options are presently open to these businesses?...
Post a Comment
Read more