This page is to give you an idea on how your Club or Society can raise funds to support your activities.
We encourage our Clubs and Societies to look for other funding opportunities that allow them to develop their skills in other areas like fundraising or in developing sponsorship deals. However, here is a list of some ideas that you could look into.
Typically, Clubs and Societies may be awarded a grant from the Students' Union to finance some of their activities. You should check with the Students' Union Activities Coordinator to confirm how much you have been awarded.
This is typically how Clubs and Societies raise their income to fund their general activities. You can do so via the Students' Union's website which would allow a formal record of memberships. You can set membership fees to help contribute to the overall cost of your activities and to the running of your Club or Society.
Your Society might be organising an event where it ticketing attendees to help finance certain activities. Please speak to the Activities Coordinator to check on the guidelines of the use of room bookings.
DEPARTMENTS AND SERVICES
You may find that some College Academic Departments and Professional Services have some funds that they have set aside for student engagement and outreach activities. This may be of interest for you to
Your Club or Society might be interested in starting a competition and may wish to charge an entry fee. Please speak to the Activities Cooridnator to check on the guidelines of the use of competitions.
VALUE ADDED TAX (VAT)
The Students' Union is not VAT registered. Provided a Club’s total income for all sources does not exceed the VAT registration threshold (£85,000 p.a. in 2017/2018), the Club does not need to register for VAT with H.M. Revenue & Customs. This in turn means that the Club does not need to charge or account for VAT, e.g. on its subscriptions to members, on sales of tickets for dinners/entertainments, sales of advertising space in term-cards, sales of tee-shirts and mementoes, etc.
Any Club not registered for VAT which has an annual turnover nearing or exceeding the VAT registration threshold can obtain advice about VAT from the Activities Coordinator. The matter of registration for VAT should be dealt with in timely fashion; HM Revenue and Customs impose financial penalties for late registration.
The Students' Union is not able to recover VAT spent, and so we do request that you ensure that you check VAT Exempt when charging tickets or memberships on the Students' Union's website.