
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 in an accountant?
A charity should seek an accountant who holds a recognised qualification from bodies such as ACCA, ICAEW, or AAT. They should have experience with SORP, fund accounting, and Gift Aid. It is also important that they understand HMRC regulations for charities, including VAT and Corporation Tax. A good accountant will provide proactive advice and help with annual reporting and governance.
How can an accountant help with Gift Aid claims?
An accountant can assist a charity in claiming Gift Aid correctly by ensuring that all donations are properly recorded and that declarations are valid. They can help you calculate the amount reclaimable from HMRC and submit the necessary paperwork. They also advise on how to handle donations from companies and higher-rate taxpayers, maximising the benefit to your charity.
What is the role of an accountant in preparing charity accounts?
An accountant prepares your charity's annual accounts in line with the Charities SORP, ensuring that they accurately reflect your financial position. They also prepare the trustees' annual report and ensure that your accounts meet the requirements of the Charity Commission. This helps maintain transparency and accountability to donors, beneficiaries, and the public.
Are accountants for charities required to be registered with a professional body?
While it is not a legal requirement, it is highly recommended that your charity accountant is registered with a recognised professional body such as ACCA, ICAEW, or AAT. This ensures they adhere to strict ethical and technical standards. It also provides you with recourse if something goes wrong, as these bodies have disciplinary procedures in place.
How does an accountant assist with HMRC tax compliance for charities?
An accountant helps your charity meet its HMRC obligations by preparing and filing tax returns, including Corporation Tax and VAT returns where applicable. They ensure that you claim all available reliefs and exemptions, such as those for charitable purposes. They also keep you informed of any changes to tax legislation that may affect your charity.
Can an accountant help with financial planning for a charity?
Yes, an accountant can provide valuable support with budgeting, cash flow forecasting, and long-term financial planning. They can help you assess the viability of new projects and funding streams. By analysing your financial data, they offer insights that help trustees make informed decisions. This proactive approach ensures that your charity remains financially sustainable.
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