
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 when choosing an accountant?
When selecting an accountant for your charity, look for a professional who holds a recognised qualification from bodies such as ACCA, ICAEW, or AAT. They should have specific experience with charity accounts, including knowledge of the Statement of Recommended Practice (SORP), Gift Aid, and restricted fund accounting. It is also important to confirm that they are registered with HMRC for handling tax matters.
How can an accountant help with HMRC compliance for a charity?
An experienced accountant ensures your charity meets all HMRC requirements, including submitting accurate Corporation Tax returns and managing PAYE for employees. They can also advise on VAT registration and exemptions, and help you claim Gift Aid on eligible donations. Proper HMRC compliance reduces the risk of penalties and keeps your charity's financial records in good order.
Are there specific tax rules that apply to charities in Blackrod Bolton?
Yes, charities in Blackrod Bolton are subject to the same UK tax laws as those elsewhere in England and Wales. This includes exemptions from Corporation Tax on income used for charitable purposes, but trading income may be taxable. An accountant with local knowledge can help you navigate these rules and ensure you take advantage of all available reliefs while staying compliant.
What is the role of an ACCA or ICAEW accountant in charity auditing?
ACCA and ICAEW accountants are qualified to perform independent examinations or audits of charity accounts, depending on the charity's income level. They assess whether financial statements give a true and fair view and comply with the Charities Act. Their professional judgement and ethical standards provide assurance to trustees, donors, and the public.
Can an accountant help with preparing a charity's annual return?
Absolutely. An accountant can prepare your charity's annual return, which is submitted to the Charity Commission. This includes summarising your income and expenditure, confirming your governing document details, and reporting any changes to trustees. They ensure that the return is accurate and submitted on time, helping you avoid late filing penalties and maintain your charity's good standing.
How often should a charity review its accounting arrangements?
It is advisable to review your accounting arrangements at least once a year, ideally before the start of a new financial year. This allows you to assess whether your current accountant is meeting your needs and whether any changes in your charity's activities require different expertise. Regular reviews help ensure that your financial management remains effective and compliant.
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