Gift Aid payments from Charity Subsidiaries

The Charity Commission published, on 24th February 2016, updated guidance on Charity Trading. Tucked within this is an important change to their views on Gift Aid payments from trading subsidiaries where there is a shortfall in distributable profits. The Commission’s guidance has been published on the same day that HMRC and the Institute of Chartered Accountants in England & Wales (ICAEW) updated their own material on the matter.