Dyke Yaxley have joined forces with a local charity to urge companies to consider backing good causes.
Francesca Hutcheson, who is the Associate Tax Director here at Dyke Yaxley Chartered Accountants in Shrewsbury, said donating money to charity wasn’t just about the “feel-good” factor, there were proven tax and commercial benefits too.
“Corporate and Social Responsibility is high on the agenda for many firms, including Dyke Yaxley, and giving back to the community you do business in is proven to increase employee engagement, improve morale, and encourage team-working.
“Our CSR programme is at the heart of our business, with staff involved in a wide range of activities throughout the year. We encourage our employees to develop strong links with community groups and local causes, as well as occasionally giving pro-bono advice to some not-for-profit organisations.”
Francesca said from a tax perspective, charity donations were also good news for companies.
“Donations to charity are generally deductible, so the net cash cost of corporate giving is around 19% less when the Corporate Tax saving is factored in. You can also make donations in many forms – from cash giving to sponsorship payments, gifts of equipment or trading stock, and even support from employees on secondment.
“But you need to take care if your company – or anyone connected to your business – receives any form of benefit in return for the donation, as there may then be a restriction on the associated tax relief.”
And the call from us has been echoed by officers from the Lingen Davies Cancer Fund (www.lingendavies.co.uk), where Francesca is also a Trustee.
Executive Officer Naomi Atkin said:
“We are always extremely grateful for the support we receive both from local companies and individuals, and we are committed to developing long-term and genuine two-way partnerships with local businesses and employers.
“We are keen to engage with more local businesses to develop bespoke packages for corporate supporters which may include educating staff, putting on events, teambuilding exercises, and promoting the business in its local area.”
Lingen Davies Cancer Fund aims to improve cancer care and support services in Shropshire, Telford and Mid-Wales, and has recently launched an ambitious £1.25 million appeal to celebrate its 40th anniversary, coming up in 2019. The charity has contributed around £18 million in today’s prices since its launch. Around 75,000 people have benefited from improved cancer treatment and care through the impact of the Fund.
Pic: Francesca Hutcheson from Dyke Yaxley (left) and Naomi Atkin from Lingen Davies Cancer Fund