Charities

Numerate Accountants can provide efficient bookkeeping for your charity, a Trust or Company Limited by Guarantee.

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?

Providing there is a written agreement between the trustee and the charity explaining the details of the job involved and how much the fee is for, trustees can be paid for services. The types of services that trustees can carry out include, building work and maintenance, research, legal or accountancy advice, use of facilities and specialist services such as IT. Trustees can also act as paid employees of the charity in a variety of roles. A written agreement is also required.

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 NUMERATE ACCOUNTANTS 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.