
ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More

ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
Frequently asked questions
What should a charity look for in an accountant in Ashford Kent?
A charity should seek an accountant who is qualified with a recognised body such as ACCA, ICAEW, or AAT and who has specific experience in the charity sector. They should understand the Charity Commission's reporting requirements, be familiar with SORP, and be able to handle Gift Aid claims, VAT, and payroll. A good accountant will also offer proactive advice on financial controls and planning.
How often does a charity need to submit financial reports to HMRC?
Charities may need to submit an annual return to HMRC, depending on their structure and activities. For example, a charitable incorporated organisation (CIO) must file annual accounts and a return with the Charity Commission, and HMRC may require separate tax returns if the charity has taxable income. Your accountant will ensure all deadlines are met and records are accurate.
Can an accountant help with Gift Aid claims for my charity?
Yes, an experienced charity accountant can assist with Gift Aid claims by ensuring that all donations are properly recorded and that declarations are in place. They will calculate the amount reclaimable from HMRC and submit the necessary claims. This can significantly increase your charity's income, so it is important to get it right.
What is the difference between an independent examination and an audit for a charity?
An independent examination is a lighter-touch review of a charity's accounts, suitable for smaller charities with income below the audit threshold. An audit is a more thorough examination required for larger charities. A qualified accountant in Ashford Kent can carry out independent examinations and help prepare for audits, ensuring compliance with the Charity Commission's regulations.
Are there specific tax rules for charities trading through a subsidiary?
Yes, charities that trade through a subsidiary company must ensure that profits are transferred to the charity under Gift Aid or other arrangements to avoid Corporation Tax. The subsidiary may need to file its own tax returns with HMRC. A specialist accountant can structure these arrangements to be tax-efficient while keeping both entities compliant.
How can I verify that an accountant is properly qualified and regulated?
You can check an accountant's credentials by looking them up on the register of their professional body, such as ACCA, ICAEW, or AAT. On AccountingFirms.co.uk, all listed professionals are verified and regulated, so you can browse with confidence. You can also ask for references or look at client reviews to ensure they have experience with charities.
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