
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 I look for in a charity accountant?
Look for accountants who are members of recognised professional bodies such as ICAEW, ACCA, or AAT. These qualifications ensure that the accountant has undergone rigorous training and adheres to ethical standards. For charity work, experience with the Charities SORP and knowledge of HMRC regulations for gift aid and VAT are particularly important.
How often should my charity have its accounts reviewed?
Most charities must prepare annual accounts and have them reviewed by an independent examiner or auditor, depending on their income level. For charities with an income over £25,000, an independent examination is required, whilst those with income above £1 million need a full audit. Your accountant can advise on the specific requirements for your organisation.
What is Gift Aid and how can an accountant help with it?
Gift Aid allows charities to reclaim basic rate tax on donations from UK taxpayers, increasing the value of each gift by 25%. An accountant can help ensure that your charity is correctly claiming Gift Aid, maintaining the necessary donor declarations, and complying with HMRC rules to avoid penalties. They can also assist with Gift Aid on small donations under the Gift Aid Small Donations Scheme.
Can an accountant help with VAT for my charity?
Yes, charity accountants can provide expert advice on VAT, which is often complex for voluntary organisations. They can help you determine if your charity should be VAT-registered, manage partial exemption calculations, and ensure that you are claiming the correct reliefs on purchases. This can result in significant savings and ensure full compliance with HMRC.
What is the difference between an independent examination and an audit?
An independent examination is a lighter-touch review of a charity's accounts, carried out by a suitably qualified person, and is suitable for charities with an income between £25,000 and £1 million. An audit is a more thorough investigation, required for larger charities, and must be conducted by a registered auditor. Your accountant can recommend which is appropriate for your charity.
How do I choose the right accountant for my charity in Goring On Thames?
Consider the accountant's experience with charities of a similar size and cause, their professional qualifications, and their familiarity with the local area. It is also important to discuss fees and the level of service you require, such as bookkeeping, tax returns, or strategic advice. A good accountant will take time to understand your charity's goals and provide proactive support.
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