I don't live in the UK so I don't know their tax laws. But I don't know the tax laws in the US either, and neither does anyone else, so I won't let that stop me from giving you advice.
Generally, anything which is a "capital gain" ie: profit, for you, is taxable.
As far as "donations" go, I think there's a slim chance you might get in trouble for using the term "donations" as you're not registered as a on-profit organization, and the people that donated might try to claim those "donations" as a tax credit.
What you'd be getting is more of a "gift".
This page will tell you how gift taxes work in the us:
http://en.wikipedia.org/wiki/Gift_tax
Apparently you can "gift" up to $12,000 to someone, and you don't have to pay taxes on that, and they don't have to pay taxes on that, but you don't get to claim a tax deduction for the gift you gave, like you can with a "donation" to a real charity.
To be a gift though it has to be "detached and disinterested generosity". I couldn't tell you exaclty what that means, but you're probably safe if the gift isn't in exchange for something, like webspace, or artwork.
The strict answer is any income you recieve is taxable and you should show it in your accounts and pay the tax on it.
While that would have been my first guess, the wikipedia page seems to indicate otherwise. Do you pay taxes on christmas gifts you get? Neither do I. And sometimes they're scratch tickets. So I think the wikipedia article must be right.
Generally, anything which is a "capital gain" ie: profit, for you, is taxable.
As far as "donations" go, I think there's a slim chance you might get in trouble for using the term "donations" as you're not registered as a on-profit organization, and the people that donated might try to claim those "donations" as a tax credit.
What you'd be getting is more of a "gift".
This page will tell you how gift taxes work in the us:
http://en.wikipedia.org/wiki/Gift_tax
Apparently you can "gift" up to $12,000 to someone, and you don't have to pay taxes on that, and they don't have to pay taxes on that, but you don't get to claim a tax deduction for the gift you gave, like you can with a "donation" to a real charity.
To be a gift though it has to be "detached and disinterested generosity". I couldn't tell you exaclty what that means, but you're probably safe if the gift isn't in exchange for something, like webspace, or artwork.
The strict answer is any income you recieve is taxable and you should show it in your accounts and pay the tax on it.
While that would have been my first guess, the wikipedia page seems to indicate otherwise. Do you pay taxes on christmas gifts you get? Neither do I. And sometimes they're scratch tickets. So I think the wikipedia article must be right.