Taxaccolega can advise you on the most appropriate structure for your charity, a Trust or Company Limited by Guarantee.
All charities can rely on VAT, Gift aid scheme and quality at Taxaccolega.
We do provide below services for Charities:
- Company formation (same day service)
- Charity registration
- Business Plans
Annual Accounts & other services
- Preparation of accounts in accordance with Charities SORP
- Filing with Charities Commission and Companies House
- VAT advice
- Payroll support
- Taxation advice
- Charity commission annual returns
- Gift aid scheme
Thinking of Running a Charity?
Running a charity as a non-profitable company can be very challenging, but the rewards of satisfaction knowing that you are helping thousands of people in need far outweigh the demands. If you run a charity and are researching ways of how qualified accountants can help to manage your accounts and tax queries, or you are thinking of running a charity, this quick-hit guide below will answer some of your initial questions.
Guide for Charity Workers
Do we have to register our charity with HMRC?
Charities are effectively recognised as a business, even if they are a non-profitable organisation. Failure to declare your charity will result in criminal actions against the trustees for fraud and tax evasion. By registering your charity as a non-profitable organisation with HMRC you will be entitled to certain tax deductible benefits.
Can we pay trustees for services?
Can you advise us about fundraising?
Yes, we offer advice about the types of fund raising opportunities you have and provide services to ensure the relevant tax exemptions are claimed in your tax returns.
What tax expenses can we claim?
It´s a common misconception that charities are not liable for tax. If your charity receives taxable gains your liabilities are considered for tax purposes just as they are with other businesses, but at the same time you are also entitled to certain tax exemptions. Taxable deductions must be stated in your Self Assessment Tax Return form.
How can Taxaccolega help manage the accounts of our charity?
We can offer guidance about how to set up your charity and advice you of the roles played by trustees and the financial implications involved. We can also advice you how to claim legitimate tax deductions for donations made by companies and individuals together with expenses incurred by the charity such as wages, travel expenses and utility builds. Furthermore, our team of specialists will handle your accounts to calculate VAT and recover monies for HM Revenue & Customs.
Checked out our services?
A range of accountancy services available to suit your personal and business needs from start-ups and compliance to taxation and investment.
Are you a small business?
We have a range of services specifically designed for small businesses, We help all types of businesses including: contractors, partnerhsups and limited companies.