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Where Taxpayers and Advisers Meet

CIC corporation Tax

Posts: 2
Joined: Wed Aug 06, 2008 3:34 pm

CIC corporation Tax

Postby chloedad » Wed Oct 10, 2018 11:52 am

I am on the ctee for a volunteer group set up to run events and fundraise for our local town hall operated by the town council but under financial pressure. Our original intention was to become a registered charity but this application has stalled and i was wondering if there was another structure we could use that would minimise any corporation tax liability. I assume our simple donations income would be ok but we make a surplus on running a bar ( just buying and selling drinks no salaries) and on ticketed events like quiz nights. All the surplus funds are used only for the benefit of the hall eg curtains, floor refurbishment etc. No individual benefits and there are no contracts or paid employees. We exceed the 5k threshold in income to contiue as a small unregistered charity. So any thought or ideas on how we could incorporate to make sure all the funds we raise are available to support the hall and not paid to HMRC ?
many thanks

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