Can donations be claimed as "deductions" for next tax-year?

US_Citizen

If I make as a self employed person around £20,000 of income before deductions, and let's say I make a donation of £50 to a charity (and also declare gift aid for the charity to claim from tax I paid last year) - now can I claim the £50 donation as a "deduction" for the next tax-year for my own tax purposes?

i.e. if I made £20,000 before deductions then assuming that's the only deduction I will make - my net income would be £19,950 (after £50 deduction of the donation).

In another words - can I claim a donation as a deduction of my income or donation is something I give out of my free will but cannot deduct as an expense of my self-employment etc?

Can you please advise?

BoGoF

No, you cannot deduct the donation as a business expense, it is a personal expense.

US_Citizen

BoGoF wrote: »

No, you cannot deduct the donation as a business expense, it is a personal expense.

Thanks for your QUICK help! :beer:

TM1976

It can be deductable if it's to a local charity.

US_Citizen

TM1976 wrote: »

It can be deductable if it's to a local charity.

What is a "Local" Charity?
I want to give a donation to a charity organization not far away from where I live with a registration number recognized by the HMRC for charity purposes - is that considered for a "Local" charity?

HappyMJ

You can't claim both gift aid and claim a business expense on the same thing. The gift aid meant that the charity got £50 from you and about £14 from HMRC. If you paid 40% tax you could claim a bit more from the HMRC but as I read it you don't.... Speak to an accountant for an accurate answer though.

US_Citizen

HappyMJ wrote: »

You can't claim both gift aid and claim a business expense on the same thing. The gift aid meant that the charity got £50 from you and about £14 from HMRC. If you paid 40% tax you could claim a bit more from the HMRC but as I read it you don't.... Speak to an accountant for an accurate answer though.

Okay, thanks for your help!