Not For Profit
The UK has a large not for profit sector, so we have set up a specialist team to assist these organisations with their accounting and tax requirements.
There are many different not for profit legal structures:
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Charities (unincorporated associations/trusts, charitable incorporated organisations or companies limited by guarantee),
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Clubs (unincorporated associations/trusts, FCA registered Industrial & Provident Society limited liability companies or community interest companies),
The administration, governance and accounting requirements of such organisations is set out in legislation, accounting SORPs and internal constitutions. We currently act for clients in various sectors:
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Local and national charities,
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Registered social landlords,
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Private members sports clubs,
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The theatre,
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Religious organisations,
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Organisations set up to own and maintain a protected asset.
We have developed a wealth of accounting/tax experience and insights into acting for not for profit clients, who typically require a mix of our services such as:
Compliance Services
- Assisting you to make your book-keeping system Making Tax Digital compliant.
- Preparation and submission of annual statutory accounts,
- Different levels of assurance on these accounts:
- None,
- Independent Examination,
- Audit,
- Attending and presenting the financial statements at your AGM.
- Before submitting any tax returns to HMRC, taking out tax investigation insurance to mitigate the potential extra professional fees that would arise if HMRC open a tax enquiry into one of your tax returns. Key risk areas for such an enquiry in this sector:
- PAYE
- VAT (partial exemption calculation)
- Exempt or mutual status for corporation tax
Outsourced Services
- Payroll
- VAT returns (including partial exemption adjustments)
Advisory Services
- Advice on the most appropriate operating structure,
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Tax issues specific to these types of organisation (including mutual corporation tax status, CASC, gift aid reclaims and partially exempt VAT returns),
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Making ourselves available for general support services, including attending your AGM, if required.
- Helping you source and apply for grant finance.
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Building up and investing surplus funds and the related fund accounting,
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Advice on governance issues.
- Investment advice.
Instruct us to prepare your statutory accounts and we shall unburden you of the worry of correctly complying with the relevant legislation/SORP. We shall also ensure that these accounts are prepared in sufficient time to be filed with the relevant Authorities by the statutory filing deadlines and for your AGM. When preparing these accounts, we shall be mindful of your beneficial tax status and we shall actively seek proven techniques to enable you to reclaim further tax.
Our Tax Group “A Brief Guide to…” publications: 
- Annual Tax on Enveloped Dwellings | FATCA & Trusts | Making Tax Digital | Off-payroll Working | Stamp Duty Land Tax | Trusts
Get in touch with your local office and speak to one of our specialist not for profit accountants, to see how we can add value to your organisation.
We offer a free initial consultation to potential new clients.
