.png)
.png)
19 October 2016
Taxable or not?; Silver fox; Hotelier; A negligible value
Taxable or not?
Is the tax status of a Saturday school dependent on how it is set up?
My six-year-old daughter attends a private Saturday school where Eastern European languages and culture are being taught. I recently attended the annual general meeting of the school governors and parents when the school finances were discussed. The school accountant presented a profit and loss account for the year ended 31 August 2016 which showed turnover of more than £80 000 net profit of around £18 000 and reserves of £60 000 accumulated over recent years.
I raised a question about the school’s legal status and was told that it is an association. The accountant advised that as such the school is not subject to any income tax. On the face of...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
