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Re: Charity funds Taxable ?
Posted: Tue May 07, 2013 8:54 am
by JamesW
2nfro wrote:
> I keep meeting people and directors of Charities , who say they
> make no profit , or a non-profit organisation.
>
> Will some one please advice to say Do these Businesses pay tax?
Donations received by charities are exempt from tax providing that the income is used for charitable purposes only.
Re: Charity funds Taxable ?
Posted: Fri May 10, 2013 6:51 pm
by lbglamour
generally charities dont pay taxes, remember charities must be off a public benefit. therefore they are allowed to trade and make profits, which must be used for the benefit of the charity. generally charities dont charge vat on goods / services but do pay vat on purchases.
A lot of charities like hospices, childline, NSPCC. RSPCA ETC, ETC, most people feel they shouldnt be charities and be goverment funded as they cover services many feel should be provided by the state. thus remember as these are charities and totally rely on public donations, charities generally save the government a fortune as they don't have to pay for them.
also remember you only have to support the charities you want to, i personally support animal charities, a local hospice and save the children.
By gift aiding any donation gives the charity 25% more, this is money given a tax refund from you direct to the charity.
Charities have a vital role in the local community and country lets not diss them.