Charitable Donations

[ChooseRentals]

Hi,

Does anyone know if there are any restrictions on making chartiable donations or sponsoring charitable events as a ltd company? I understand that I could use my advertising budget to sponsor an event if I get something out of it, but what about if no advertising is provided, can this be classified as a legitimate expense and how would I account for it?

Thanks.

[Jayne]

Hi,

If you have proof of the money you gave to charity, you can put it against tax. Not sure of the amount, someone will be along shortly though to tell you :D

Jayne

[ChooseRentals]

Hi again Jayne,

I thought it must be ok, but didn't know how to justify it in my accounting or whether there were any limitations. :D

[Jayne]

When I've given to charity before, I just put paid to (xxxwho ever) and how much and that it was for charity, in my books. Accountant sorts the rest out. :D

Jayne

[ChooseRentals]

It's my accountant that is doing the event and I feel foolish to ask him the Q? :oops:

[BMS]

He would be the best person to ask and I'm sure if it his event he will expect you to claim a tax deduction.

[ChooseRentals]

BMS, you're right of course, I'll just have to bite the bullet. He better not charge me for the advice. :wink:

[MinuWeb]

BMS, you're right of course, I'll just have to bite the bullet. He better not charge me for the advice. :wink: Tell him that whatever he charges you for this piece of advise will be deducated from your donation :D

[ChooseRentals]

:lol: :lol: :lol:

I like it.

[BMS]

Just make sure that it is a charitable donation and not cheap advertising which wouldn't be tax deductable.