Charities & Not For Profit

In today’s competitive market, organisations in the voluntary sector are having to operate in a more commercial way whilst being bound by strict regulatory and compliance requirements.

All charities and not for profit organisations are unique, but we understand the wide variety of challenges you face and the support you need.

We have been acting for a significant number of aid charities, arts and culture organisations, churches and grant making foundations for many years so we have accumulated considerable specialist knowledge of the sector.

We can advise you about accounting conventions, the implications for “trading activities” as opposed to fund raising, trustee remuneration, gift aid, restricted, unrestricted and other funds, and provide you with all the support you need to help you meet the specific interests of your members, clients and beneficiaries.

It is a common misconception that charities are exempt from tax but they can take advantage of a number of exemptions such as income tax, corporation tax, VAT relief, business rates and capital gains tax. We can help you to understand which exemptions and reliefs apply to you to help you structure your activities in the most tax-efficient way.

If you’re considering starting a charity, we can advise you about the most appropriate legal structure of your organisation (incorporated or unincorporated charity, CIC, etc.), help you to prepare your governing documents and assist you with the Charity Commission, Companies House and HMRC registrations.

With a team of business experts on hand, we can guide you in developing a commercial business strategy, secure funding, identify available grants and prepare budgets, as well as ensuring you meet your statutory obligations.

Whether you want to sell a few low cost charity items or launch a large-scale trading operation, we can advise you on the best way to carry out trading activities and establish whether it is necessary to set up a trading subsidiary.

SORP 2005 has been replaced by FRSSE SORP and the FRS 102 SORP which are applicable for periods beginning on or after 1 January 2015 and 1 January 2016 respectively. There are also separate SORPs that exist for specific classes of charity such as Registered Social Housing Providers, Further and Higher Education Institutions and Common Investment Funds). Whatever your requirements, we can support you in the application of the correct Financial Reporting Standards applicable to your organisation and ensure that all important disclosures are made with reference to the standard when preparing your accounts.

Some of the charities we work with:

 

How we can help you

  • Audit and Independent Examination
  • Accounts preparation
  • Payroll and auto-enrolment
  • Setting up a charitable organisation
  • FRS 102 SORP
  • Gift aid
  • Review of accounting systems
  • HMRC investigations
  • FRSSE SORP
  • Profit and cashflow forecasting
  • Charity tax and VAT
  • Management accounts
  • Viability consultancy and advice
  • Structure and trading subsidiaries
  • Internal audit of controls
  • Strategic planning

Gift aid

We can support you in registering for and making the most of the gift aid scheme. We can advise you on the records you are required to keep, provide information on how to maximise gift aid potential, and meeting the requirements on specific issues such as donor benefits, admission fees, and membership schemes. We can help you with the online filing of the gift aid returns and we have also successfully supported several organisations through HMRC gift aid audits. In the event of a visit from HMRC, we can assist you in preparing the necessary information, ensure you understand the implications of HMRC’s findings and if necessary, negotiate on your behalf. We can even ensure that all of the professional costs incurred during an HMRC investigation are covered through the use of our Fee Protection Service. Just ask us for more details.