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Tax status of non-profit making private school

Posted by Anonymous on Fri, 03/07/2009 - 12:09

I am the assistant accountant at a small nursery/school. This organisation is set up as a limited by guarantee company without share capital, it is not a registered charity.

Total gross income for the first full financial year is circa £102K.

This includes £5K donation from parents.

The question is - is the £5K donation taxable income?

I would appreciate any advice with thanks

Any one know?

Could anyone please help?

Posted by Anonymous on Sat, 04/07/2009 - 20:55

Sorry for the delay

Looks like it is...

http://www.hmrc.gov.uk/manuals/bimmanual/bim41810.htm

Hope this helps

Posted by fraserjopp on Mon, 06/07/2009 - 11:23

Thanks very much

Thank you for the above reply and link to HMRC. Very useful indeed.

Posted by Anonymous on Mon, 06/07/2009 - 12:14

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