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

Any one know?
Could anyone please help?