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Issue:
4490
/
Categories:
Comment & Analysis
, Admin
, Compliance
, Income Tax
, Investments
, Venture capital
A tax guide to crowdfunding
KEY POINTS
- Crowdfunding as a means of raising finance is doubling every 60 days globally.
- Donations to fund business are likely to be subject to income or corporation tax.
- Care should be taken if a donors are given rewards.
- Advantages of peer to peer lending such as social investment tax relief.
The use of crowdfunding a word coined in 2006 to describe the method of raising capital through the collective efforts of friends family members customers and individual investors is increasing at such a rate that globally it appears to be doubling every 60 days.
Designed to raise small sums from lots of supporters rather than large investments from a few investors crowdfunding is often achieved through social media or designated platforms.
There are three types of...
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