
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 qualifications should a charity accountant hold?
A charity accountant should ideally be qualified with a recognised body such as ACCA, ICAEW, or AAT. These qualifications demonstrate a high level of technical knowledge and adherence to professional standards. Many charity accountants also undertake additional training in charity law and SORP, which is essential for preparing accurate accounts for the Charity Commission.
How can a specialist charity accountant help with HMRC compliance?
A specialist charity accountant will ensure your charity meets all HMRC obligations, including VAT registration thresholds, Corporation Tax on trading income, and PAYE for employees. They will also help you claim Gift Aid correctly and manage any tax reliefs your charity is entitled to, reducing the risk of penalties and ensuring you remain fully compliant.
What is the difference between an independent examination and a full audit?
An independent examination is a lighter-touch review of a charity’s accounts, suitable for smaller charities with income below the audit threshold. A full audit provides greater assurance and is required for larger charities. A qualified accountant can advise which applies to your charity and carry out the necessary work in accordance with the Charity Commission’s guidance.
How often should a charity review its financial procedures?
It is good practice to review your charity’s financial procedures at least once a year, or whenever there is a significant change income, expenditure, or staffing. Regular reviews help identify weaknesses internal controls, ensure that restricted funds are managed correctly, and keep your charity’s financial reporting in line with current regulations and best practice.
Can a charity accountant help with Gift Aid claims?
Yes, a qualified charity accountant can manage Gift Aid claims on your behalf. They will ensure that all donations are eligible, maintain the necessary declarations, and submit claims to HMRC correctly and on time. This maximises the value of donations to your charity and reduces the administrative burden on your team.
What records must a charity keep for tax purposes?
A charity must keep accurate financial records, including details of all income and expenditure, bank statements, invoices, and receipts. For tax purposes, you should also keep Gift Aid declarations, payroll records, and any documentation relating to trading activities. A professional accountant can help you set up a record-keeping system that meets both Charity Commission and HMRC requirements.
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