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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › question

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by JillyB.
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  • October 30, 2022 at 12:07 pm #670310
    xyzc
    Participant
    • Topics: 411
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    • ☆☆☆☆

    Why would an online donation to a registered national charity chosen by the employees of the company be classified as qualifying charitable donation and why would a local donation be not classified as qualifying charitable donation.

    October 31, 2022 at 11:59 am #670410
    JillyB
    Keymaster
    • Topics: 1
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    • ☆☆☆

    Local and small donations are an allowance expense in the accounts and are not adjusted when working out the profits for tax purposes.
    However, donations to national charities come under the gift aid scheme rules and are not allowable and have to be added back in adjusted profits.
    However they are a viable deduction from profits so are given as a dedcution (QCD) in the TTP computation.

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