CIC Corporation tax on donations

Hi, I am part of a micro entity Community Interest Company, part of what we do involves charging for a service - this means we could potentially generate a profit which we would need to pay tax on (the aim is to reinvest any surplus back into our other work) We also receive financial donations to fund the other work we do, am I correct in thinking we do not need to pay tax on these, and if so do we need to include this money on our CT600 and if so where do we include it?

Hi,

There is no definitive answer to this as we would need to know the specifics of where money is generated from or received from and then what happens to that money. Generally donations would not be taxable where they are given for a specific reason and then utilised for that reason.

We would suggest that you speak to a financial advisor or write to us with the details so that we can provide a more specific response.

Corporation Tax: general enquiries

Thank you.