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27-01-2012 09:26 AM #1
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The consequences of being charitable
When I was filling in my tax return there was a box saying have you given any money to charity?
I've always said no because I'm thinking it's the private me that gives to charity not the business me.....but.....
it occurred to me that in this past month the business me has done 3 charity type givings.
So my questions are...
why is the tax man asking? What happens if you say yes?
I've assumed it's something to do with giving the charity the gift aided tax back thingy, but are they going to ask how much I've given and to whom as it's a bit complicated....because this is what I did:
1. I donated things as a raffle prize at a craft fair. In my head I've always thought that this was part payment for a table space but the raffle money always goes to charity so may be I should be thinking of my donation as a gift to a charity?
2. My DIL is fundraising for an embrionic RSPCA in Chile. (It's http://animalizateuk.weebly.com/who-...imalizate.html if anyone's interested) and I'm running a mini dog themed tombola alongside my Little Chile stall. I was just going to chuck the money raised over to her. Should I be accounting for it properly and be sticking it on my tax return?
3. Someone on this forum just asked for a bit of help with her charity fundraising thing and I've just knocked her up somethings to sell from my business crafting bits. In my head I'm going what the heck I'm using up little bits that are lying around....but should I be thinking I've used up business stuff to make these, I should put a price on it and account for it as a business charity giving thing?
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27-01-2012 10:02 AM #2
I think you do get tax relief on charitable donations. Once I ticked "Yes", only to be confronted with a box wanting the charity's registration number etc etc, and all the ins and outs of a cat's ****hole! So I didn't bother, as I hadn't bothered to ask for their number when I donated.
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27-01-2012 10:06 AM #3
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Tbh Anne if you are not big business or donating large expensive products I would leave blank. It gives you the tax relief on the items donated but you do have to have the paperwork in place from the charity. Something to think about for the future even if you do not donate etc.
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27-01-2012 11:07 AM #4
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That's what I was thinking. A load more work. As my DH says - how long would it take to do and it would be a better use of your time if you earned money in that time and wrote the cost of the volutary thing off. But he says I'd earn more stacking shelves in Tescos and during the emotion of getting married I fluffed my lines and missed out the obey thing so i tend not to do anything he says.......
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27-01-2012 11:43 AM #5
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Whats obey? think I must have missed this as well or perhaps I had selective hearing and did not hear the priest say it, lol, don't think they say anymore
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27-01-2012 12:26 PM #6
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I know! They make up their own marriage vows nowadays. Shock horror! There were rules about these things in the old days.
Now what were we talking about? Oh yes. Not following rules
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27-01-2012 12:39 PM #7
Tax relief is only on donations for registered charities. Thats why so many larger companies have charitable foundations, it's a legal tax **** but somethimes they also do a lot of good as well.
OBEY not in my vocabulary either, not the first time, or any other time that may come along in the future LOL I would much rather hear something written personally from the heart of one person to the heart of another not some ancient waffle geared to the social standards of years gone by. Ouuuups off soap box now !!!!
Mo.XXMo.
MornieG Jewellery.Being deeply loved by someone gives you strength, while loving someone deeply gives you courage..Lao Tzu.
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27-01-2012 01:03 PM #8
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Well that scuppers my donations to Animaizate then. The English branch is too small at the moment to need to register.
Thanks Mo. Much obliged for the info.
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27-01-2012 04:31 PM #9
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I donate a certain amount of product and a percentage of profit from sales to a charity but from the outset I signed a contract with the charity. This was a really simple thing to do (they provided the document which outlines my relationship with the charity and the agreed donation basis) and protects all concerned and keeps all the official peeps happy too. Nothing scary at all.
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27-01-2012 05:44 PM #10
Hi there, can't help with any info for this thread but want to say a HUGE thank you for helping the dogs and strays in Chile. It's as bad as Spain where the govnt won't help with the huge problem they have regarding dogs and cats. When my mum lived over there a vet used to spay cats and dogs very cheaply to help but then got fined for doing that, it makes no sense. The dog whisperer has made a programme or series in Spanish to show them what is going on there. Thanks again Anne x
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