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Income tax wise whats the difference Donation or Charge

proinsais · 2009-10-05 15:32:50

What the difference in not charging and maybe receiving a donation for a service. Or charging a price. Thanks

05-10-2009 3:32pm

#1

proinsais

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Join Date: January 2009

Posts: 4

What the difference in not charging and maybe receiving a donation for a service. Or charging a price.
Thanks

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Comments

#2 05-10-2009 3:51pm

Victor

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I'm not sure there is a real difference, it will all be treated as income. If A gives X to B and B gives Y to B, the revenue will look at the substance of the transaction, not its artificial name.

Now, in certain circumstances, it may be legitimate, e.g. a charity registered for VAT (I'm not sure what the implications are) providing a GP service would need to charge VAT. However, if someone received the same medical service for free, but happened to make a donation, then the VAT treatment might be different. But again the revenue will look at the substance of the transaction - if you couldn't ge tthe service without a "donation" then it isn't a donation.

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