The Commissioner for Revenue has issued a clarification note to explain that traders who donate goods that are close to their expiry date for charitable purposes (rather than destroy them) will not loose the right to the deduction for the cost of the goods and would not be required to write back the deduction they would have claimed. This applies as long as there is evidence of the delivery of the goods by way of a donation for charity.
Any sums recoverable under an insurance is to be taken into account in determining the profits.
