Tax status of non-profit making private school

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

Comments

Any one know?

Anonymous | | Permalink

Could anyone please help?

Sorry for the delay

fraserjopp | | Permalink

Looks like it is...

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

Hope this helps

Thanks very much

Anonymous | | Permalink

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