We are organizing an event in the UK and we need to book a hotel for about 200 attendees. The booking fee of about 4,000 pounds is to be shared by all the people. Since we have no company bank account nor a ticket sale system, we decided to use my personal bank account for collected money and use it to pay for the hotel.
All of the money will be temporarily stored in my bank account for several days and then there will be no money left in it.
The question is whether I need to pay tax for collecting money from all attendees. The 4,000 pounds has already paid the VAT for the hotel.