Benefits of being Registered as a Charity

O

One

Registered User
Messages
218
I am a member of a new search and recovery unit, for searching rivers. It is a non-profit voluntary organisation. I have applied for a VAT number for the unit.

I am wondering whether I should also register it as a charity. I know that being registered as a charity exempts charities from income tax, corporation tax, etc. However those two taxes would not be applicable to us anyway (I think). Therefore I don't know what the advantages of being registered as a charity are? I don't know if we are obliged to register as a charity either?
 
You must be better off registering as a charity, surely any donations received would be classed as invoice if you didnt
 
If you don't register as a charity, Revenue will come looking for you to file an income tax return. It deals with this issue. Also you may need a tax clearance cert in the future or you may need to claim tax back on donations.
 
Most charities need to raise money or get grants you don't want to have to pay tax on these or any surpluses. There are also plans for a charity regulator who will ask for a lot of info. many charities are companies ltd by gauruntee as this strucutre is helpful.

All these things show you in a good light to your public. If you tell people you are a charity doing good work the first question will be "where is you CHY number? and your published accounts?" This is why main charities are registered and usually companies ltd by gauruntee
 
Thanks for your replies. I will proceed with our registration as a charity.
 
You must log in or register to reply here.
Back
Top