u/Equivalent-Roll-3976

▲ 1 r/TaxUK

Corporation tax on crowdfund

Hi all. I have a question regarding corporation tax that might be due. I have small startup which I am trying to build from group up. I launched a crowdfund campaign a while back and received nearly 10k on it which will be used to build the platform, obtain certifications and permits needed to launch the business.

I am now concerned about the tax implication on this amount raised. This is sort of donated to me and I am not going out any equity or product in return for this.

Can someone guide me if and how it will be taxed? And how should I account for this amount?

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u/Equivalent-Roll-3976 — 5 days ago