Types of Income

Income can be divided into different categories depending on the criteria outlined below. Your attention is drawn to the fact that income derived as a donation, qualifies for a Tax Certificate, which is obtained via Marketing and Communications or where vat is claimed in which case a Tax Invoice is obtained via the Finance Division. Please note that where income is generated from an overseas donor, the researcher qualifies to obtain a Tax Invoice. In this case the vat is zero rated. What this means is that all expenses which qualify for vat (i.e. consumables, not car hire or accommodation), can be coded to the vat account (05999 999 192). This effectively means that your original income will be worth 14% more.

	CRITERA	VAT	SOURCE	ACCOUNT DIGITS	CODE DIGITS
GRANTS(GOVT)	NO DIRECT BEENFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST TAX INVOICE REQUESTED BY FUNDER	VATABLE	CENTRAL/QUASI PROVINCIAL LOCAL	6-8 757 758 759	10-11 71 71 71
GRANTS (GOVT)	NO DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST	EXEMPT	CENTRAL/QUASI PROVINCIAL LOCAL	760 761 762	71 71 71
GRANTS (PRIVATE)	DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST TAX INVOICE ISSUED TO FUNDER	VATABLE	PRIVATE ENTERPRISE	765	72
GRANTS (PRIVATE)	NO DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST	EXEMPT	PRIVATE ENTERPRISE	766	72
CONTRACTS SA (PRIVATE)	DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY FUNDER RIGHTS VESTED IN FUNDER CONTRACT EXISTS FINANCIAL AND/OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR TAX INVOICE ISSUED TO FUNDER	VATABLE	PRIVATE ENTERPRISE	767	72
CONTRACTS FOREIGN (PRIVATE)	DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY FUNDER RIGHTS VESTED IN FUNDER CONTRACT EXISTS FINANCIAL AND/OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR ZERO-RATED TAX INVOICE ISSUED TO FUNDER	ZERO-RATED	PRIVATE ENTERPRISE	767	72
DONATIONS (PRIVATE)	NO BENEFIT TO DONOR NOT REFUNDABLE VALUE CAN BE ESTABLISHED VALUE CAN BE CASH OR IN KIND TAX CERTIFICATE ITO SECT 18A ISSUED	EXEMPT	PRIVATE ENTERPRISE INDIVIDUALS CHARITABLE FUNDS TRUSTS	768	72
DONATIONS (PRIVATE)	NO BENEFIT TO DONOR NOT REFUNDABLE VALUE CAN BE CASH OR IN KIND VALUE CAN BE ESTABLISHED TAX CERTIFICATE ITO SECT 18A ISSUED	EXEMPT	FOUNDATIONS ASSOCIATIONS NOT FOR GAIN FOREIGN	769	72
SALES/ SERVICES OF EDUCATIONAL ACTIVITIES	EDUCATIONAL ACTIVITIES OFFERED TO GENERAL PUBLIC DIALOGUE WITH ACADEMIC PEERS NOT REFUNDABLE NO FINANCIAL OR OTHER REPORTS	EXEMPT	COURSE FEES EDUCATIONAL CONFERENCES WORKSHOPS SUMMER SCHOOL SEMINARS FUNDS EARNED PRIVATLEY FROM CONSULTANCY WORK	783-784	76
OTHER	CONSULTANTS FEES TAX INVOICE ISSUED	VATABLE	SERVICE TO GENERAL PUBLIC SALE OF RESEARCH PAPERS SALE OF BOOKS ROYALTIES	800	83