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Post Info TOPIC: VAT on charitable donations
torracj


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VAT on charitable donations
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Good Afternoon All,

We support a few charities and I am coming to process the in Quickbooks, we are a limited company

We sent a cash payment to a charity and I am wondering what I key for VAT, No Vat, Exempt or zero rated?

We also purchase toys/ selection boxes / toiletries / clothing to send to a children's charity - again I am unsure as to whether we can claim the VAT back on these (I presume not?) and therefore would I process them on Quickbooks as No VAT, zero rated, or exempt?

Many thanks!

 



-- Edited by torracj on Tuesday 27th of February 2024 04:35:49 PM

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jammidodger


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Hi, for cash donations to charities I would select No VAT in QuickBooks. You can't usually reclaim VAT on items bought specifically for donation to a charity, as they need to directly relate to the activities of the business. 

 

 

 

 



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torracj


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Thank you for the reply! Just for VAT purposes I just wanted to ensure I was choosing the correct option, thanks again!

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