The sums don't really justify getting a lawyer involved at this stage. (They would just consume all the profits) obviously it the arrangement is repeated or the sums grow I will be sure to do so. But at his stage would anything else suffice?
I sincerely hope not else 20% will go on CT! from reading the below we had hoped we could just make a gift ourselves and CT is calculated on profits after the donation?
That's what I thought but it is complicated by the fact 1) the co-host has incurred expenses which he first needs to deduct, and 2) he has the relationship with the two charities and would like them to receive the funds from himself. Failing a direct transfer to the charities, how do I cover our CIC in terms of paperwork?
Thanks your quick reply. I'll put them under separate codes, but what paperwork will I need?
The co-host isn't a charity but rather will distribute the proceeds directly to the charities concerned. Are we ok to transfer the funds to him via BACS or does the transfer need to go to to the charities? I just want to make sure the CIC is covered from all tax/regulatory liabilities.
My answers
What paperwork would suffice from the 3rd party? Some kind of eveidence or statement to the effect he is giving the proceeds to charity???
Thanks.
The sums don't really justify getting a lawyer involved at this stage. (They would just consume all the profits) obviously it the arrangement is repeated or the sums grow I will be sure to do so. But at his stage would anything else suffice?
And what are the paperwork requirements 1) giving profits directly and 2) giving profits via 3rd party?
I sincerely hope not else 20% will go on CT! from reading the below we had hoped we could just make a gift ourselves and CT is calculated on profits after the donation?
http://www.institute-of-fundraising.org.uk/guidance/fundraising-essentia...
That's what I thought but it is complicated by the fact 1) the co-host has incurred expenses which he first needs to deduct, and 2) he has the relationship with the two charities and would like them to receive the funds from himself. Failing a direct transfer to the charities, how do I cover our CIC in terms of paperwork?
Thanks your quick reply. I'll put them under separate codes, but what paperwork will I need?
The co-host isn't a charity but rather will distribute the proceeds directly to the charities concerned. Are we ok to transfer the funds to him via BACS or does the transfer need to go to to the charities? I just want to make sure the CIC is covered from all tax/regulatory liabilities.