
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

Accounting etc. limited
We are a small firm of Chartered Management Accountants dedicated to providing you with a high quality accountancy service and sound business advice a...See More

Turner Barratt
At Turner Barratt we believe that we have something unique to offer. Just Corporate Finance Turner Barratt are Chartered Accountants who are dedicate...See More
Frequently asked questions
What should a charity look for when choosing an accountant?
A charity should seek an accountant with proven experience in the voluntary sector, ideally holding a qualification from ACCA, ICAEW, or AAT. They should understand charity accounting regulations, Gift Aid, and the preparation of annual returns. It is also important that they are familiar with HMRC requirements and can offer proactive advice on tax efficiency and financial management.
How does an accountant help with Gift Aid claims?
An accountant can help your charity maximise Gift Aid by ensuring that all eligible donations are correctly recorded and that declarations are obtained from donors. They will calculate the amount reclaimable from HMRC and submit the necessary claims. This requires meticulous record-keeping and an understanding of the rules, which a qualified professional can provide.
Are charity accounts subject to Corporation Tax?
Most charities are exempt from Corporation Tax on income used for charitable purposes, but trading income or profits from non-charitable activities may be taxable. An accountant can help determine which income streams are exempt and ensure that any taxable profits are reported correctly to HMRC. They will also advise on how to structure activities to maintain tax advantages.
What qualifications should a charity accountant hold?
A qualified charity accountant should hold a recognised professional qualification from a body such as ACCA, ICAEW, or AAT. These qualifications demonstrate a high level of technical knowledge and adherence to ethical standards. Additionally, experience with charities is essential, as the regulatory environment differs significantly from that of commercial businesses.
How often should a charity review its financial procedures?
It is advisable for a charity to review its financial procedures at least annually, or whenever there is a significant change in operations or regulations. Regular reviews help ensure that internal controls remain effective and that the charity continues to comply with HMRC and Charity Commission requirements. An accountant can assist with these reviews and recommend improvements.
Can an accountant assist with a charity's annual return to the Charity Commission?
Yes, an accountant can prepare and submit the annual return to the Charity Commission, ensuring that all financial information is accurate and complete. They will also prepare the trustees’ annual report and the accounts in accordance with the applicable Charities SORP. This helps avoid penalties and maintains the charity’s good standing with regulators.
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