Quizzes & Puzzles1 min ago
Unincorporated Association Taxes Help
2 Answers
Hello
I volunteer for what is classed as an unincorporated association - we do not make any profit, however, we do sell items which fund the purchase of the items we sell. We have a registered business bank account which we pay a fee for.
I guess what I'm asking is do we need to register as maybe a non-profit or at the very least register as paying taxes even though no profit is made? We have only had our bank account since the beginning of the year, we have had a separate paypal and purchases have always been as a business never as friends and family.
We have a model constitution ect
Any help appreciated as I'm ignorant but obviously as we are helping people we don't want to be breaking the law.
We don't qualify to be a charity as we don't fundraise for 5,000 a year or more, we would be lucky if in a year if we got £500, which would go back into purchases and postage
I volunteer for what is classed as an unincorporated association - we do not make any profit, however, we do sell items which fund the purchase of the items we sell. We have a registered business bank account which we pay a fee for.
I guess what I'm asking is do we need to register as maybe a non-profit or at the very least register as paying taxes even though no profit is made? We have only had our bank account since the beginning of the year, we have had a separate paypal and purchases have always been as a business never as friends and family.
We have a model constitution ect
Any help appreciated as I'm ignorant but obviously as we are helping people we don't want to be breaking the law.
We don't qualify to be a charity as we don't fundraise for 5,000 a year or more, we would be lucky if in a year if we got £500, which would go back into purchases and postage
Answers
Best Answer
No best answer has yet been selected by pink-ladie-0. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.You're simply operating in the same way that many local sports clubs (etc) do. As you're not making any profit, I can't see any need for any type of registration at all:
https:/ /www.go v.uk/un incorpo rated-a ssociat ions
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