United Kingdom · Question · Written question
UIN 19775
Crowdfunding: Taxation
Original
Introduced
24 February 2020
Last action
27 February 2020 · Answer
Status
Answered
Sponsors
—
Subjects
Taxation
Source updated
27 February 2020
Summary
To ask the Chancellor of the Exchequer, whether HMRC will treat crowd funded payments to people affected by Storm Dennis as taxable income.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
24 February 2020
Written question
To ask the Chancellor of the Exchequer, whether HMRC will treat crowd funded payments to people affected by Storm Dennis as taxable income.
Source: Commons
27 February 2020
Answer
Gratuitous payments to people, made from a pot of funds raised by crowdfunding, will not be taxable income. To be gratuitous, there must be no agreement or expectation that the recipient will provide something in return.
Source: Written answer
Votes
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Versions
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Documents
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Sponsors
- · Treasury · Answering body
Related records
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Sources
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- Official source: https://questions-statements.parliament.uk/written-questions/detail/2020-02-24/19775
- Open data entity: https://questions-statements-api.parliament.uk/api/writtenquestions/questions/1179986
- uk · wq-1179986 · source updated 27 February 2020