there is no reason why a separate group cannot do this if it is as
suggested unattached to HS as it is separate an un attached and it could
offer HS the space as a beneficiary and to others.
it depends entirely then on if that group can make it work and if HS like
what is proposed to it, i am sure there are other groups that might find
several options for a WorkSpace organisation
not for profit
On 27 September 2012 13:53, Russ Garrett <r...@garrett.co.uk> wrote:
> How about we forego making complex legal structures until we find
> somewhere where this is actually feasible?
> 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
> > members of London Hackspace then bequeath a certain sum of money which
> > 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
> > 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
> > as they abide by the ethos of the trust.
> > A trust could be set up tomorrow,appoint temporary trustees, until voted
> > and set up a bank account and see what we can raise from our membership
> > take it from there. If it doesn't work out we simple BACS the donations,
> > of and we carry on renting.
> > 'The trust will be able to take advantage of many tax benefits.
> > from the tax relief on your own donations to the trust, it will not pay
> > on its investment income. It will not pay corporation tax or inheritance
> > tax, or business rates (there is mandatory relief against business rates
> > 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
> > supplying a significant amount of products or services that are subject
> > VAT. This is unlikely if it is simply making grants to other charitable
> > organisations.'
> Russ Garrett
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