Best thing to do is talk with a lawyer and an accountant for a one hour consultation to find out what your business needs to do to stay in compliance. As your requirements may be different from other businesses based on sales, employees, incorporation type, location, etc. As paying VAT may only apply to customers in Europe.

If you are going to offer subscriptions you should have some serious content that only subscribers have access too that is regularly updated and is premium quality to keep people coming back.

You should also continue to have information available for guests and non-subscribers to keep them, but the good stuff should be available to premium subscribers only. Many businesses only show 1/4th of the content or a synopsis of the content, though this is only successful if the premium content is long (1,000 words or more and heavy in value (detailed subscriber only videos and content, insure the URLs being served to subscribers are verified from your sites API to insure the content can only be accessed with an active subscription).

It is highly recommend to go the premium subscriber or subscriber tiers versus donations as donations are normally not as inclusive as actual subscribers wanting new premium content.