Setting up a registered charity for the benefit of a primary school

[z109]

Has anyone done this?

Can anyone tell me what's involved?

Has it worked out for the benefit of the school? (Are businesses, for example, more likely to give where there is a tax benefit for them?).

TIA,
YM.

 

[ClubMan]

Any use?

[broken link removed]

 

[ubiquitous]

Are businesses, for example, more likely to give where there is a tax benefit for them?).

Ì can't really answer the remainder of your question but any business structured as a limited company will only get a tax break of 12.5% on any amount sponsored or donated, so the tax break itself is unlikely to be a significant motivation to them.

 

[ClubMan]

If a self employed person makes a personal charitable donation from his/her income can he/she not claim back income tax?

 

[efm]

If a self employed person makes a personal charitable donation from his/her income can he/she not claim back income tax?

I thought it was the charity could claim the tax back, not the person making the donation (or is it different for self employed)?

 

[z109]

I thought it was the charity could claim the tax back, not the person making the donation (or is it different for self employed)?

Yes, self-employed people claim back the tax themselves. PAYE workers can provide a PPS number and the charity can claim back the tax. Both claims only apply if more than EUR250 is donated to the charity within a tax year.

WRT business tax relief, most businesses (I hope!) have an amount set aside for local benficient works. 12.5% looks big to an accountant, so a tax-registered charity would have an eighth of an advantage over a non-registered one! Might be enough!

 

[z109]

Any use?

[broken link removed]

Some, I wasn't aware that it was possible to get a gift tax exemption for schools; unfortunately the school I want to make the donations efficient for would not be considered particularly disadvantaged, I think. I will check anyway, just in case this is something that has been missed, but what I am thinking of is more in the line of this:
[broken link removed]

I understand from this roughly how it is done, but not what else is 'involved', that is, are there many hoops to jump through! (The school is quite small, so the cost/benefit has to be considered).

Thanks,
YM.

 

[SarahMc]

The whole idea of charities being regulated by Revenue will soon be a thing of the past. There is a new Charities Bill going through the motions at the moment.

It may be an idea to register with Revenue before this happens, as it may be that schools that are not designated disadvantaged will not be able to be a registered charity, but I imagine all those pre-approved will be registered (although this is not clear).

 

[z109]

The whole idea of charities being regulated by Revenue will soon be a thing of the past. There is a new Charities Bill going through the motions at the moment.

It may be an idea to register with Revenue before this happens, as it may be that schools that are not designated disadvantaged will not be able to be a registered charity, but I imagine all those pre-approved will be registered (although this is not clear).

That's useful advice, thank you.

 

[RainyDay]

Why would you want a charity separate from the school itself? Why not just give money directly to the school?