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From: Russ Garrett <r...@garrett.co.uk>
Date: Thu, 27 Sep 2012 13:53:30 +0100
Message-ID: <CAC9rG2iuW-D5D+arZg+67peGGDOt75cKB0OWyRMf0vZ_C__...@mail.gmail.com>
Subject: Re: [london-hack-space] Re: Could London HackSpace purchase the
 Kingsway Telephone Exchange?
To: london-hack-space@googlegroups.com
Cc: hacksp...@norgie.net
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How about we forego making complex legal structures until we find
somewhere where this is actually feasible?

Russ

On 27 September 2012 13:00, Steve Kelly <kelly.st...@ntlworld.com> wrote:
> Hows about,
>
> A charitable trust is set uneqivalently unattached to the london Hackspace,
> members of London Hackspace then bequeath a certain sum of money  which is
> tax free (to us as a donation).The amount bequeathed gives us the 25%
> deposit needed for the purchace of suitable premises which is then rented to
> London Hackspace at a rent equal to the mortgage repayments. Its charitable
> aim could be amongst others to provide free space to 1 or 2 business
> startups with the proviso that they take on a local apprentice or provide an
> internship.
>
> The only caveat I can see with this is we will attract donations from
> others.Would we accept 'fat cat' donations? er, lets see now, Yes!
> Any excess monies bequeathed to the trust by others could be used to help
> out other hackspaces around the country purchase their own premises so long
> as they abide by the ethos of the trust.
>
> A trust could be set up tomorrow,appoint temporary trustees, until voted in
> and set up a bank account and see what we can raise from our membership and
> take it from there. If it doesn't work out we simple BACS the donations, end
> of and we carry on renting.
>
>       'The trust will be able to take advantage of many tax benefits. Apart
> from the tax relief on your own donations to the trust, it will not pay tax
> on its investment income. It will not pay corporation tax or inheritance
> tax, or business rates (there is mandatory relief against business rates at
> 80% and a further 20% on a discretionary basis) if it eventually runs its
> own office. Also the trust will not have to register for VAT, unless it is
> supplying a significant amount of products or services that are subject to
> VAT. This is unlikely if it is simply making grants to other charitable
> organisations.'



-- 
Russ Garrett
r...@garrett.co.uk