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Business Matters

Charitable donations and the ice bucket challenge

Many people are taking part in the ice bucket challenge and making the requisite donation to charity. If you're in business, you have the choice of donating through your business rather than doing it personally. On the one hand your business gets tax relief on the donation while the charity gets the full amount of your contribution.

If you make the donation personally, you can "gift aid" it - which means you make the donation out of after tax earnings and the charity can reclaim the tax you paid. If you're a higher rate taxpayer you get tax relief at the difference between the basic rate and the higher rate.

Whichever way you pay your donation, a charity somewhere benefits.

Here's my video of my icebucket challenge I did on 24th August 2014. Please be warned there is perhaps more on view here than you might like.....

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