Community service
KEY POINTS
- As well as having social advantages community enterprises can give rise to unexpected tax issues.
- The importance of choosing the appropriate business structure.
- Some organisations may be treated as a charity by HMRC with exemption and profits are applied for charitable purposes.
- Profits from mutual trading will not be taxed but there are conditions.
- Social investment tax relief has tax advantages if funds are used for qualifying purposes.
Community-run commercial ventures are becoming increasingly common as village amenities close and residents decide to take matters into their own hands.
Community shops pubs and post offices are a good way to sustain a vibrant village that would otherwise lose its focal point and a forum for social interaction. They are also a lifeline for residents who...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.