Q: I gifted my son £1,000 and hold this in an account in my son’s name. However prior to his 18th birthday he is not able to access that money without my consent. In this instance is he liable for zakāh? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: This would be considered […]
Read more...Category: Zakatable Assets Fatawa
Is a HMRC tax deposit Zakatable?
Q: I have a question regarding the calculation of my zakat liability. My money has been deposited with HMRC to pay for outstanding tax liabilities. In theory I could still withdraw that money before 2019, but in this case interest would accrue and I would have to pay it all back in 2019 regardless. The […]
Read more...Is zakat payable on rental income as well as on the share of property that is owned?
Q: 1 Can you please confirm that zakat is payable on rental income as well as the share of property that is owned. For example, if the annual rental income is £15,000 and the annual mortgage payment is £12,000, is zakat due on the difference (£3000 in this example) if the person hasn’t spent any money from rental […]
Read more...Zakat on a fixed deposit account
Q: I have around 8000 pounds in a fixed deposit in an Islamic bank. My money is taken for 2 years and invested in halal things and then at the end of the two years my money is returned to me with profit InshaAllah also added to it. However I cannot access or withdraw any of […]
Read more...Is Zakat liable on invoices not issued yet?
Q: We have annual contracts signed in advance with our customers to provide service support for the year. Invoice is sent out each month. Is zakat liable on the months in advance, even though invoices have not been sent and service not provided yet? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: There is […]
Read more...I have failed to pay zakat in previous years. How do I make up for it?
Q: How do I pay it on wealth past gone; which I don’t know how much the total I accumulated was and how long I had it for. I always spent the money as soon as i got it, it never lasted more than a month in my hand and i never put it in my account. How would i […]
Read more...Is Zakat payable on wealth not held in possession for the entire year?
Q: In the beginning of the year 2014 my husband and I were looking to purchase our first home.We are currently renting privately. I had about £50,000 savings. We both work full time and our salaries were going to contribute to the eventual purchase (as it takes about 12-16 weeks for completion and all monies […]
Read more...Is zakat due on an amount of money I only came to possess 11 days before my zakat anniversary?
Q: Is zakat due on an amount of money I only came to possess 11 days before my zakat anniversary, and which is going to be used to buy a house (and therefore not “surplus” wealth)? الجواب حامدا ومصليا ومنه الصدق والصواب A: Once one becomes owner of the nisab one’s lunar year commences. Any […]
Read more...Does a woman have to sell her gold in order to pay zakat?
Q: Does a woman have to pay zakat on her gold even if her and her husband do not have enough cash over the nisab? i.e. does she have to sell some gold and pay separately? الجواب حامدا ومصليا ومنه الصدق والصواب A: If the gold, individually or in conjunction with other zakatable assets from […]
Read more...Is Zakat due on inheritance that is not received until a few years have passed?
Q: A man passes away leaving a wife and three children. The process of sorting out his estate takes 2-3 years in which time the family does not know exactly how much has been left behind and therefore they don’t know how much the are entitled to. Eventually the funds are received by the respective […]
Read more...How can I subtract oustanding debts from my zakatable assets when the exact amount is unknown?
Q: I would like to find out what I should do in a situation where in I owe money to a few organisations but I don’t know how much as I owe this money was due years ago, do I take a rough calculation and subtract it from the nisab? الجواب حامدا ومصليا ومسلما ومنه […]
Read more...Does Zakah need to be paid on maternity pay that may need returning?
Q: Does Zakah need to be paid on maternity pay that may need returning if one can’t go back to work and hence has been kept aside? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Once maternity pay is received the recipient becomes owner of the same. As it is not a loan it will […]
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