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Where Taxpayers and Advisers Meet

Tax from donations

Posts: 1
Joined: Thu Jan 10, 2019 2:06 pm

Tax from donations

Postby johnbulk » Sun Feb 03, 2019 1:30 am


I'm starting with a new company and some of my clients gave me donations for the guest house. All the money will be spent on the guest house. What about the tax? Do I have to pay tax from donations? The entire donation will be used to buy the house. Can anyone explains to me Do I have to pay a normal tax or vat? If yes, can I put that tax into the expense and claim for that next year?


Posts: 13
Joined: Mon Jun 25, 2018 9:19 am

Re: Tax from donations

Postby accutalk » Mon Feb 04, 2019 1:18 pm

You can claim tax relief for the donations received. However, it depends on the amount of donation received by you. VAT registration compulsary.

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