Re: Non profit organisation?

troysteadman@xxxxxxxxxxx wrote:

> Except the surplus will be invested and will earn interest on which
> Corporation Tax will be due and against which no expenditure can be
> set.
>
> Or are you saying the Income Tax which will (probably) be deducted at
> source will be "near enough" the Corporation Tax due for the Inspector
> not so be arsed with sorting it out every year?

Income tax is not deducted at source for company interest.

It is unlikely that the company will earn more than £10,000 a year in bank
interest, so no tax would be payable.
.

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