Zakat on share investments: determining a proxy for calculation
At the National Zakat Foundation, in collaboration with scholars, financial analysts, accountants and others, we spent almost 5 months analysing the FTSE 100 to determine...
Is Zakat due on the packaging used in sales?
Question: I have a food catering business. Is Zakat due on the packaging used? For example, food containers, carrier bags etc? In the Name of...
Is it Permissible to Invest in a Property Fund and What is the Zakat Liability on Such a Fund?
Question: I have invested in a property fund which invests in commercial real estate and rents out these real estate on the high street. The...
Is Zakat Due on Child Trust Funds?
Question: Is Zakat Due on Child Trust Funds? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. The Answer:...
How Should Raw Materials be Valued in a Business for Zakat?
Question: How should raw materials be valued in one’s business? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh....
Is Zakat due on Monies Invested in Kitty and Committee Schemes?
Question: Is zakaat compulsory on money which has been put into a “kitty”. Kitty is basically when a group of people get together and each...
Can Tax Relief be Claimed Upon Zakat Payments?
Question: As a higher rate tax payer, can I claim back tax relief from Zakat payments? In the Name of Allah, the Most Gracious, the...
What is the Zakat liability on a director’s loan into their company?
Question: If I have put a director’s loan into my company, do I have to still pay zakat on that loan? In the Name of...
Is A Buy To Let Property With Plans To Sell Upon Favourable Market Conditions Zakatable?
Question: Is a property purchased for personal use or a buy to let but with a plan to surely sell this in future when market...
Is a Property Purchased to Resell and Thereafter Leased but Still on the Market For Sale Zakatable?
Question: Is a property purchased to resell and thereafter leased for short-term but still on the market for sale Zakatable? In the Name of Allah,...
Can a Creditor Be Paid Zakat Directly on Behalf of a Debtor?
Question: Can a creditor be paid Zakat directly on behalf of a debtor? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu...
Is The Profit and Loss Account Used For Zakat Calculation?
Question: Is The Profit and Loss Account Used For Zakat Calculation? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi...
