Can a company give a donation to a CIC (community interest company) and reclaim on the tax
Comments
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No. You are probably thinking about gift aid which higher rate taxpayers can recover, but this only applies to Income Tax, not Corporation Tax0
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no, not gift aid. Do they receive any tax relief from deducting the value of the donation from total profits before paying tax ?0
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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 yearRegardsCiaran Andrew Leyland0
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