CIC Association

Serving Community Enterprise

Please could someone clarify if general donations to a CIC are classed as taxable income ie if someone donated £10,000, would we have to pay tax on that if we had not spent it by our year end?

Thanks

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Replies to This Discussion

I believe so. Unless you were selling them shares or membership.

 in some circumstances if that underspend is 'forward spending' on a project into the next tax year it isnt taxable

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