Hi all,
Apologies if this has been raised before, but I've not found anything on the search options relating to my query.
I've recently taken over as the treasurer for an amateur theatre group who have been going for c. 50 years, and have never registered with HMRC or similar. The turnover of the group is c. £20k a year, some years having as much as £4k profit and others a similar level of loss so that it all evens out roughly over time. We are sitting on some savings though. We have a constitution that states that upon wind up the society assets will be paid to a charity of the members choice at an EGM. If the society goes bankrupt the committee and members liable, as to be agreed at such time by an EGM.
Does anyone know what the protocol is for registering with HMRC? I was under the impression we didn't have to as we don't have any employees, only members (who pay to be involved). We do 'pay' a musical director, orchestra and similar honourariums, but aren't in the business of making money - we are definitely a not-for-profit. We have a society account as a bank account.
I assume we won't have any tax liability even if we register, but I'm not sure if we need to.
Does anyone have any thoughts?
- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch