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AWS ACCOUNTANTS (LONDON) LLP

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MQPLUS LTD
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EFJ CONSULTING LTD
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TaxAssist Accountants
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Rochvilles & Co Accountants Ltd
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Southall Accountants
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Ahmed-Cliffords Ltd
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KHAWAR & CO LTD
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YBSM PARTNERS
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Future Formations Ltd
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TaxPert Solutions Limited Certified Public Accountants
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Enterprise Nation
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Frequently asked questions
What specific services do accountants for charities provide?
Accountants for charities provide a range of services including preparation of annual accounts, managing restricted funds, claiming Gift Aid, and ensuring compliance with the Charity Commission. They also assist with Corporation Tax, VAT, and payroll for charity staff. Many offer strategic advice on financial planning and governance, helping your charity use its resources effectively whilst meeting all legal obligations.
How do I know if an accountant is properly qualified for charity work?
Look for accountants who are members of recognised professional bodies such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has undergone rigorous training and adheres to ethical standards. Additionally, ask about their experience with charities specifically, as this demonstrates an understanding of SORP and other sector-specific regulations. The directory only lists verified and regulated professionals, so you can trust their credentials.
What is the difference between an audit and an independent examination for a charity?
An audit is a formal, in-depth review of a charity's financial statements, required for larger charities. An independent examination is a lighter-touch review, suitable for smaller charities with income below certain thresholds. The independent examiner checks the accounts for obvious errors or concerns, whilst an auditor provides greater assurance. Your accountant can advise which is necessary based on your charity's size and income.
Can an accountant help with HMRC reporting for my charity?
Yes, accountants can help with all HMRC reporting requirements, including filing the annual return, claiming Gift Aid, and managing Corporation Tax. They ensure your charity is registered correctly and that you meet deadlines, avoiding penalties. They can also advise on VAT, including partial exemption rules, and help you understand how to complete Self Assessment if required for trustees or employees.
How often should my charity review its financial procedures with an accountant?
It is wise to have a financial review at least annually, but more frequent check-ins can be beneficial, especially if your charity experiences significant changes. Regular reviews help identify risks, improve internal controls, and ensure compliance with changing regulations. An accountant can also provide ongoing support throughout the year, helping you manage cash flow and plan for future projects.
What should I look for when comparing accountants for my charity?
When comparing accountants, consider their qualifications, experience with charities, and understanding of the sector. Check if they are registered with a professional body like ACCA or ICAEW, and ask for references from other charities. Also consider their fees and whether they offer fixed-price packages. The directory allows you to browse local firms and compare their services, making it easier to find a suitable match.
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