Entering Arts Council funding on Tax return

Entering Arts Council funding on Tax return

Postby MissyUK on Thu Jan 12, 2012 11:07 pm

Hi, where do I enter a grant received from the Arts Council on a self assessment tax return please? As it is not earned income do I have to put it in at all? Have looked at all the sections but am lost!!
Thanks, Ruth
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Re: Entering Arts Council funding on Tax return

Postby mullet on Fri Jan 13, 2012 9:14 am

First principles apply. What is the grant for? For instance the setting up of a business and acquisition of premises or equipment etc, or to supplement income during its infancy? In other words is it capital or revenue? What do you do? Why were you eligible for the grant? Did the Arts Council provide guidance on how the receipt might be treated?

Whether it is earned or unearned income does not determine the tax treatment.
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Re: Entering Arts Council funding on Tax return

Postby Incredulum on Tue May 08, 2012 1:11 pm

Indeed, is there any trade?
Incredulum
 
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Hardware financing.

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