'Informal' club has money in hand

[Bramsley]

Hi,

Can anyone help me please? I am part of the organisation of an informal music club that meets once a week in a room in a pub. Musicians come down, play some songs for each other and buy raffle tickets which go towards paying for professional guest performers to come and play at the club once a month or so. The raffle doesn't cover all the fees of these professional performers, so on those nights there is also an entrance fee ranging roughly from £5 to £10. In the past we have usually had a couple of hundred pounds or so in hand, which goes towards the next performers fee.

None of the organisers or anyone else makes any money or gets any other sort of benefit from running the club - apart of course from the professional artists and the pub landord.

However, the club has been very popular over the last couple of years and the 'kitty' for paying guests has built up quite considerably, and the money in hand (in an bank account set up in the club's name) now amounts to nearly £2000, and is growing despite dropping entrance fees on guest nights to try and reduce it.

This worries me because, a) this money isn't ours - it is intended to be to provide professional music to those who come to our club on a regular basis, and b) I am concerned it could be seen as profit and that we should be declaring it somewhere and paying tax on it.

Can anyone offer any advice as to whether this money is taxable please?
Thank you.

[bd6759]

It is not taxable. The money on the kitty belongs to the contributors.

[Bramsley]

Thank you bd6759, That is a weight off my mind.