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  • Buy-to-Let

    Can my company support a Political Party

    I was watching tv news today and I was wondering can my Company support a Political party

    and would it be taxed for a contribution made by the company

    Or is it better if join the party myself

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    If your company is registered in the UK and carries on business in the UK then it can make a donation - https://www.legislation.gov.uk/ukpga/2000/41/section/54. The party must check that the company is eligible to donate and return the donation if it isn't.

    The donation is probably not tax deductible as it isn't for trade purposes - https://www.gov.uk/hmrc-internal-manuals/...l/bim47405. Because of this, in theory, HMRC could ask you to pay extra tax but they don't do so - https://graphics.thomsonreuters.com/15/04...TIONS1.pdf

    You may be able to reduce your inheritance tax bill by donating personally or from the company (under section 94 of Inheritance Tax Act 1984) using Inheritance Tax Act 1984, s 3 as long as the party meets certain criteria (like having at least 1 MP).

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    Thank you DL

    0
    0

    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.