Tax question on fundraising...

[Farky]

Im wondering if anyone can help me.....

Are donations from a fundraiser Tax exempt.
All donations etc would be put into a Trustee account and the funds would be used for the security and needs of that individual.
All donations would be from the individuals friends. No company donations

Many thanks

[1point7bar]

Registered charity?

[Farky]

Nope, i believe his friends are organising an event where people will pay for a table with buffet etc and make donations

[1point7bar]

Gifts are exempt.

[Farky]

What about if they do a few raffles?? The proceeds from that??

[Eric Mc]

What's the porpose of the event?

[Farky]

His partner will be needing alot of care when eventually discharged from hospital and friends and family thought it be a good idea to do a fundraiser to help assist with the financial side of things

[Eric Mc]

Perhaps he should set up the fund as a small charity. That would remove any problems regarding tax etc.

[Farky]

How do u do that and what is involved?

[1point7bar]

Register with the Charity Commission.

You will have to fill in and return the fairly simple annual form.

How much do you expect to raise?

IIRC >10k/pa needs a deed of trust.

Edited by 1point7bar on Friday 2nd March 09:21