Charitable Donations and Losses

[Lambs]

Hi,

Anyone disagree with the general understanding that charitable donations can be relieved only after all other losses relieved except for Group Relief?

Specifically, that trading losses carried back to the previous AP must cover all trading profits in that earlier AP and effectively displace any relief for charitable donations previously given in that earlier AP - a potential "waste of losses", but tough (if you want to make the claim).

From dim and distant memory, this was a distinguishing feature between old "trade charges", which were NOT displaced by trading losses brought back, and "non-trade charges", (such as charitable donations in the 'old' regime), which were.

I'd be grateful to know if anyone agrees / disagrees.

With thanks and regards,

Lambs

[maths]

Bit (or a lot!) out of my depth.

My understanding is that qualifying charitable donations made by a company rank as a deduction from total profits in computing corporation tax after all other forms of corporation tax relief have been utilised apart from group relief [CTA 2010 s189].

Charitable donations cannot be added to a company's trading losses [CTA 2010 s189].

Not sure if this deals with your point.

[Lambs]

Hi Maths,

Thank you for your reply. I think we are in accord.

Kind regards,

Lambs

[maths]

When are we not ?????

[Lambs]

I'll find something, don't worry.

Best,

Lambs

[maths]

Lambs to the slaughter then.