Can a company give a donation to a CIC (community interest company) and reclaim on the tax

Mrsh1969

Hi I work for a CIC and we are currently asking for funds as our main contract with the local authority ends in March. Can I say to potential companies, if they give us a donation they can reclaim the tax?

davealucas

No. You are probably thinking about gift aid which higher rate taxpayers can recover, but this only applies to Income Tax, not Corporation Tax

Mrsh1969

no, not gift aid. Do they receive any tax relief from deducting the value of the donation from total profits before paying tax ?

AndrewLeyland

I didn't respond last time because the other reply. Here the info on it.

https://www.gov.uk/tax-limited-company-gives-to-charity/donating-money#:~:text=How to claim-,Donating money,profits before you pay tax.

but i be careful because it could be classed as you giving financial advise saying they can deduct it from profits. I would advise them to look at the tax rules them self or refer to there own accountant for there own circumstance since.

I run a CASC that has a income of 80k a year