Fund raising advice

Mupette · 22 June 2016 at 11:22PM

Posted in Benefits but cross posting here as it maybe someone maybe able to advise

This may not even be in the right place but I need to start somewhere - it may need to be in small biz.

History

I have MS I am fundraising to pay for treatment, (not asking for money here this is not what this is about)

I am having very very bad time at work which is affecting my mental health well being, and it would be better prior to treatment to stop work and perhaps just concentrate on the fundraising side of things.

I've found something i can make at home that people love and its been a small success and i would like to try and work on that and see where that would take me.

Money / Benefits

Leaving work would help me but obviously we all still have our bills to pay and NI to pay etc.

I thought about ESA as i am quite sick, but would they want my fundraising money even through thats for essential medical treatment, the treatment is available here in the UK but i do not fit the criteria, as many with MS find, and so a lot of us are going abroad for it.

I really don't know where to go with this, I'm not out to deceive, this money is for treatment not for anything else, or do i just forget even thinking of ESA?

Finefoot · 22 June 2016 at 11:43PM

I suggest you make enquiries about setting up a trust for your medical bills, and appointing trustees to run it. Not sure what the current rules are, but it used to be that money held in trust did not count as earnings, so would not be included in benefit calculations. I have no experience of this personally, but hope it helps.

Mupette · 22 June 2016 at 11:48PM

Thanks for the advice, most of the money has been donations from strangers so far.

I just don't want to do that wrong thing, or loose it in a system and i never get the treatment

Finefoot · 22 June 2016 at 11:59PM

Taken from the law donut website:

19. What is the tax treatment of a trust set up for a disabled beneficiary?

Special trusts can be set up for individuals who are incapable of looking after themselves, or who are significantly disabled. The trustees can manage the assets on their behalf and make payments to help the beneficiary.

Putting assets in trust (rather than giving them outright to the beneficiary) helps ensure that these assets are not taken into account when calculating their entitlement to state benefits.

Income and capital gains are taxed in the normal way. However, the trust is not subject to the normal initial and periodic inheritance tax charges. Instead, inheritance tax becomes payable on the assets of the trust – plus any other assets owned by the beneficiary – when the beneficiary dies

Fund raising advice

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free