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Gifts/donations to an unincorporated business

An unincorporated dancing school has installed a new studio floor, partly paid for from profits, but also from small donations, raffles etc. How do we account for the donations/fundraisers, do we need to pay tax on what seems to be non-trading income?
Christine Taylor

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See also
the replies to the second try for a response at http://www.accountingweb.co.uk/cgi-bin/item.cgi?id=131617

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Further information required
To answer this question a great deal more information is required. Is it a commercial
venture or a group of friends getting to-gethor.
Are subs paid or payments made for classes.
Will free lessons be given to people who organise raffles.

The best thing for you to do if you do not have the money to pay for professional help
is to put the facts in writing to your local
district inspector and a ruling will be given.
You will find them very helpful at this level.
You also need to establish the vat position

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