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laws re donations?
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Posts: 1 Newbie
Hello I'm getting a state pension and pension credit therefore have to declare anything I earn - no matter how little. What is the present law regarding donations? e.g. If I give someone a painting & they donate some money for me to buy more art materials? Or if I give someone a counselling session & they want to give me a money gift to thank me ? thanks ....
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Comments
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I did that for 34 years before I retired.
Each year I would donate some time to a company, and in return they would donate some money to 'thank' me. Sadly, HMRC decided that I should 'donate' a lot of tax and national insurance to the government.
I suggest you set yourself up as a charity. For every 'donation' you receive you will get more money in the form of 'gift aid'.
It's probably best to run your proposals directly through HMRC. But personally I'd wait until Wednesday April 1st.0
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