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Post Info TOPIC: Bookkeeping Donation
brog13


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Bookkeeping Donation
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Hi All

I wonder if anyone can advise, please?

I carry out the bookkeeping, unpaid, for a sports club. It takes some hours each week. The club would really like to include the cost of my bookkeeping in the accounts, with the equivelant donation for the same sum, to show how much the club would have to pay if I didn't do it for free.

Except - if I put this amount in their income, albeit donating it, would I have to declare this income in my accounts, and therefore pay tax on it!

Many thanks for your help.

Babs

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Wendy


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I see why the club would like to show this but given they aren't actually receiving a donation (in monetary terms anyway) and they aren't paying for your service these can't go in the accounts.

What they could do if they wanted to would be to include a note to the financial statements saying that their book keeping services are provided free of charge and is a service worth X amount of money per annum. This may solve the issue?

____________

Wendy


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brog13


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Hi Wendy - yes, you are right, good idea. I will do that.

Many thanks
Babs

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