KickstarterForum.org

Hi,

I've google around a ton, but haven't been able to find the answer. What sort of taxation does the UK have for Kickstarter projects?

Since the project that I (and others in the group) made was outside the countries supported, we had a friend of mine in the UK use his bank account. It's now time to take the money, but I want to make sure he doesn't get a minus afterwards from taxes or something.

Anyone have a clue? I haven't been able to find pretty much any info on it.

In the uk there will be a 20% Value added tax on the kickstarter fees, but not on the total raised

The total tax and service fee of Kickstarter is about 9-10% in your raised fund in the UK.

So am I correct in understanding that he shouldn't need to pay any extra tax, apart from what was automatically deducted when the money was transferred?