Demand is rising for charity services, both here and internationally. The right professional advice can make all the difference, particularly now when an increased demand for services is coupled with concerns about income.
Most charities recognise the need to demonstrate public accountability through their annual report and accounts but increasingly they need an adviser they can trust to keep abreast of all the changes and how these will affect them. Our services can help your charity to be effective and sustainable through good governance, transparency, probity and accountability. We can meet all your requirements on time and on budget.
The UK now has one of the most favourable tax regimes for charitable giving in the world but trustees and management need to be aware of both the pitfalls and the opportunities of the tax system. Tax law allows charities a wide exemption from corporation tax, income tax and Capital Gains Tax (CGT). However it is important to understand the limits and how to work with them. Charities are not exempt from VAT and this is an area requiring careful consideration.
We help charitable organisations make the most of the benefits and minimise the burdens of the direct tax and VAT systems, ensuring that maximum funds are available to support charitable causes.
We act for a range of clients from grant-making trusts and foundations to independent schools and heritage charities, clubs and associations. Our charity specialist, Katherine Dee, has been awarded the ICAEW Diploma in Charity Accounting (DChA), a qualification that recognises specific expertise and experience in charity accounting and finance. Many of our team act as trustees for charities or as school governors in their own right and understand the pressures you face.
Our specialist services to charities include:
- advice on viability and restructuring
- assurance services – audit and independent examination
- charity taxation including VAT, maximising income through gift aid, charitable trading
- management accounts and financial reporting
- compliance with Charity SORP and Charity Law in the preparation of the accounts and annual report
- reserves policy and accounting for separate funds
- setting-up a new organisation: regulatory, taxation, and governance issues
- employment issues, taxation, the engagement of workers and working with volunteers
Please contact us for further information about how we can help.