Bare Trust tax advice

Re: Bare Trust tax advice

Postby tax_schmax on Tue May 24, 2011 9:27 am

I think you should repost this in the income tax part of the forum. The tax help you have received here relates to the trust and not if donations are treated as income by the tax people. To my mind, the donations you receive seem to be in exchange for some services and I feel it looks a lot like earned income. You may get an accurate answer here although more people that could help you might view the Income Tax part of this forum.
tax_schmax
 
Posts: 314
Joined: Wed Aug 06, 2008 3:53 pm

Re: Bare Trust tax advice

Postby section 44 on Tue May 24, 2011 9:58 am

tax_schmax wrote:donations


As in a gift rather than payment/consideration. Can you expand on who typcially makes these donations and why you receive them?
section 44
 
Posts: 2056
Joined: Thu Oct 30, 2008 12:47 pm

Re: Bare Trust tax advice

Postby mo68 on Tue May 24, 2011 10:27 am

I think i've got it and why I have made a big mistake. There is tax for the trust and there is tax for me personally. There are two types of donation, one as gift and I would say in your language some for services. I'll need to sort it out with the tax people - thank you all for your help. If i have any more questions I'll post them in the income tax part
mo68
 
Posts: 6
Joined: Sat May 21, 2011 6:45 pm

Previous

Return to Trusts and Estates

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site global tax seminars, conferences and other events Global tax jobs portal List of UK recruitment agencies and employers