If a private school is a reg'd charity, is there tax relief
Discussion
Payment of school fees would not normally be considered as charitable donations and therefore would not be eligible for payment under the Gift Aid rules. The definition of a "donation" or a "gift" is that the payee hands over the money or money's worth with no expectation of a direct benefit for himself or his family.
Obviously, charities will sometimes encourage people to pay as much as they can to them through the Gift Aid (or Deed of Covenant) system and as long as they are reasonable about the portion and nature of the payments considered to be a genuine donation, the Revenue will by and large accept the situation. That is why many museums often ask people to make a "donation" as they enter rather than pay an entrance fee.
Obviously, charities will sometimes encourage people to pay as much as they can to them through the Gift Aid (or Deed of Covenant) system and as long as they are reasonable about the portion and nature of the payments considered to be a genuine donation, the Revenue will by and large accept the situation. That is why many museums often ask people to make a "donation" as they enter rather than pay an entrance fee.
I see a business opportunity here!
We create a school fees matching service.
Person A has school fees of £11k pa
Person B has school fees of £9k pa
Person A makes gift aid donation to Person B's school.
Person B makes gift aid donation to person A's school.
No personal benefit or connection.
Technology wise - no different matching bets a la Betfair really.
So, Feefair.com.
Who is with me?
We create a school fees matching service.
Person A has school fees of £11k pa
Person B has school fees of £9k pa
Person A makes gift aid donation to Person B's school.
Person B makes gift aid donation to person A's school.
No personal benefit or connection.
Technology wise - no different matching bets a la Betfair really.
So, Feefair.com.
Who is with me?
As usual, Eric is right.
If you are receiving services from a charity, you cannot pay for them by means of a gift. I expect this applies (as confirmed by Eric) to services recieved for members of your family.
Such services need to be paid for, in the usual way, and that cannot be made tax-exempt.
Oli.
If you are receiving services from a charity, you cannot pay for them by means of a gift. I expect this applies (as confirmed by Eric) to services recieved for members of your family.
Such services need to be paid for, in the usual way, and that cannot be made tax-exempt.
Oli.
johnfm said:
I see a business opportunity here!
We create a school fees matching service.
Person A has school fees of £11k pa
Person B has school fees of £9k pa
Person A makes gift aid donation to Person B's school.
Person B makes gift aid donation to person A's school.
No personal benefit or connection.
Technology wise - no different matching bets a la Betfair really.
So, Feefair.com.
Who is with me?
hmmm 9 != 11, I think your business plan needs work.We create a school fees matching service.
Person A has school fees of £11k pa
Person B has school fees of £9k pa
Person A makes gift aid donation to Person B's school.
Person B makes gift aid donation to person A's school.
No personal benefit or connection.
Technology wise - no different matching bets a la Betfair really.
So, Feefair.com.
Who is with me?
johnfm said:
I see a business opportunity here!
We create a school fees matching service.
Person A has school fees of £11k pa
Person B has school fees of £9k pa
Person A makes gift aid donation to Person B's school.
Person B makes gift aid donation to person A's school.
No personal benefit or connection.
Technology wise - no different matching bets a la Betfair really.
So, Feefair.com.
Who is with me?
I like your thinking, im in, £20 for a 80% share in your businessWe create a school fees matching service.
Person A has school fees of £11k pa
Person B has school fees of £9k pa
Person A makes gift aid donation to Person B's school.
Person B makes gift aid donation to person A's school.
No personal benefit or connection.
Technology wise - no different matching bets a la Betfair really.
So, Feefair.com.
Who is with me?
Mc Lovin said:
SirTainly said:
Mc Lovin said:
I like your thinking, im in, £20 for a 80% share in your business
You are Evan Davis AICMFP (for which you'll want an 80% share of my takings no doubt)
SirTainly said:
Mc Lovin said:
SirTainly said:
Mc Lovin said:
I like your thinking, im in, £20 for a 80% share in your business
You are Evan Davis AICMFP (for which you'll want an 80% share of my takings no doubt)
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