Crowd-funding: tax implications

Crowd-funding: tax implications

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DanoS4

Original Poster:

868 posts

194 months

Wednesday 27th August 2014
quotequote all
Hi All,

Don't venture in these parts that often, but I think I need some advice.

Looking at a crowd-fund for £7.5k
I'm offering various rewards in return for the pledges.

With the funds, I'll be buying a computer and some audio kit.

I'm struggling to ascertain exactly what my tax liability will be. I'm intending to spend the lot. ie income=outgoings.

Any advice from those in the know?
Even if it is "don't touch it with a 10ft battle lance!"biggrin

Dan

DanoS4

Original Poster:

868 posts

194 months

Thursday 28th August 2014
quotequote all
Apologies about the delay - will be as an individual.
The intention is to use the raised funds to purchase equipment.

I'm also planning to talk to an accountant next week. Before I set the crowd-fund in motion.

Thanks for your input smile

Dan