Raising money for daughter's therapy

katmum

We want to start some local fundraising to help pay for some therapy for my daughter at the Boabath Centre (centre for cerebral palsy children). I have a few questions before starting fundraising.

I'm worried any money we raise will affect our family tax credit/Child tax credit payments. We really rely on these as a family to help pay essential bills so can not afford to lose any money from tax credits. Will any fundraising we do be seen as income which might affect these tax payments to us?

Can I open a bank account in my child's name and be in control of it? (take money out when we want to help pay for therapy.) I'd prefer if any money we raise goes into an independent bank account rather than my main bank account.

Someone has told me I can not register our fundraising for charity status as it will only benefit one person but think we can register it as a non-charitable trust. How do I go about this and what would be the benfits of doing this?

Any help on the above questions or any advice from anyone who has been through fundraising efforts already would be great.

Thanks.

Indie_Kid

You may get a better answer in the enefits and tax credits forum. To get tax credits, you must meet the criteria for age, income and the taxale interest of savings must not be more than £300 pa.

Oldernotwiser

Do you claim any means tested benefits other than tax credits?

kingfisherblue

Have you applied for funding from anywhere, instead of trying to raise the money yourself?
Try http://www.henryspink.org/home.htm

You could also ask for a couple of friends to be trustees on the account - two unrelated people to sign any withdrawals.

lorrden2910

Hi there

We have been in the postion where we have had to fundraise for vital equipment for our disabled son. I have opened a bank account in his name and myself and a friend are trustees and both have to sign to withdraw any money. I also keep a record of income and what we spend separately so that anyone can see what has been done with the money they have donated. It should not affect any benefits as it is not your income if the bank account is in your child's name with trustees operating the aacount. Also, there should be no tax implications as children have a tax allowance the same as adults(only they don't usually use it).

Good luck with your fund raising.