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Accounting for gift aid payments and tax effects
06 March 2018 Andrea Marshall, Tax Specialist
Deloitte has issued this useful summary of the accounting changes the Financial Reporting Council has brought in regarding gift aid payments from subsidiaries, including the useful reminder that 'a charitable subsidiary without a deed of covenant will be able to recognise the tax effects of a probable gift aid payment but will not be able to accrue for the payment itself' as long as 'it is probable that the gift aid payment will be made within nine months of the reporting date and the payment will qualify to be set against profits for tax purposes'. The Deloitte document can be found here.
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06 March 2018 
Andrea Marshall, Tax Specialist
