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Are donations taxable?
artyhirst
Posts: 11 Forumite
in Cutting tax
I'm a retired art teacher and supplement my small teacher pension running workshops for adults, I do my own self assessment but rarely pay much tax.. When C19 struck I decided to start a Youtube channel to help people find something to do. I aired two videos a week and I didn't charge, but I asked for donations via Paypal. The videos became popular and I made 17 in total. As a result I received a substantial amount in donations, which although I had to buy a new laptop, mic etc offset my loss of earnings through my workshops,. I have kept records of all the donations. My question is; is this taxable income?
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Comments
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If people paid this money to you because of your services, and you were entitled to spend the money as you saw fit, I don't think these are "donations". They are part of your business income.1
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I would agree, this counts as your business income.
Indecision is the key to flexibility
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These are basically tips, which are taxable.
But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll0
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