Chapter 11 - 4.1 - Qualifying Charitable Donations Flashcards
1
Q
How are donations to national charities by a sole trader treated?
A
As a sole trader, donations to national charities are not allowable trading expenditure
2
Q
What is a qualifying charitable donation?
A
When companies receive relief for charitable donations by deducting the amount paid when calculating taxable total profits
3
Q
On what basis are QCDs relieved?
A
QCDs are relived on a cash basis not an accruals basis
