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I am interested in soliciting donations from local companies. I want to make my requests for donations as financially attractive to the companies in question as possible in terms of potential tax relief and positive media coverage. Can someone tell me in terms a simple monkey (ie me) can understand how companies who donate goods to charities can benefit most in terms of tax relief. A scenario of particular interest to me would be: If a company has end of line stock which would otherwise be sold at a discount rate, could they donate it and claim it as a business expense at its existing full price with commensurate tax relief? Is this possible. Obviously the reputation of my charity is paramount and I want to remain within the letter and spirit of the law.
Thus far my only point of reference has been http://www.hmrc.gov.uk/businesses/giving/sponsorship.htm but this only mentions money donations in the context of sponsorship?.
General information about tax benefits for companies that donate would also be very much appreciated.
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