Hi All,
Lets say myco (IT Contractor) has earned 40K in one year. Out of this if i want to pay lets say 5K to a registered charity, Can I pay it from my company accounts directly and consider it as expenses. Or do i have to transfer this to my accounts as dividends and then pay to the charity (of-course this also means my personal tax implication).
Also, same question for a non-registered charity e.g. if i want to pay (as gift) to some poor person, can I pay it using the company accounts and consider it as expenses.
Any help will be highly appreciated.
Thanks
Lets say myco (IT Contractor) has earned 40K in one year. Out of this if i want to pay lets say 5K to a registered charity, Can I pay it from my company accounts directly and consider it as expenses. Or do i have to transfer this to my accounts as dividends and then pay to the charity (of-course this also means my personal tax implication).
Also, same question for a non-registered charity e.g. if i want to pay (as gift) to some poor person, can I pay it using the company accounts and consider it as expenses.
Any help will be highly appreciated.
Thanks
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