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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3655
Experience:  Solicitors 2 years plus PQE
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I want to operate a limited company taking £200 weekly as,a

Resolved Question:

I want to operate a limited company taking £200 weekly as,a wage and giving the other income to charity as it comes in. Do I have to pay tax on the other income before I can donate it to charity or can I just keep my two hundred pounds weekly wage plus expenses and safely donate the balance on a yearly basis.I want to be absolutely. Certain that Inland Revenue cannot take even one penny, that all the profit goes to the charity or charities I choose
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Alex J. :

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. All Companies must pay corporation tax however as long as you receive no benefit from the donations and they are not paid as dividends to the charities then the payments will apply for "Gift Aid".

Alex J. :

"Gift Aid" is a tax relief applicable to Limited companies under S.191 of the Corporation Tax Act 2010.

Alex J. :

I would consider including a provision in your Articles of Association that allow for all company profits to be paid as a charitable donation.

Customer:

ta, AJ.I may come back to you with more queries on this . Regards ***** *****

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