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This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.

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MJF ACCOUNTANCY LIMITED
Frequently asked questions
What qualifications should I look for in an accountant for my charity?
Look for an accountant who is a member of a recognised professional body such as ACCA, ICAEW, or AAT. These qualifications ensure the accountant has undergone rigorous training and adheres to ethical standards. Additionally, they should have experience with charity accounting, including the SORP, and be familiar with HMRC regulations for non-profit organisations.
How can a specialist charity accountant help with HMRC compliance?
A specialist charity accountant will ensure your organisation meets all HMRC requirements, including filing annual returns, claiming Gift Aid, and managing VAT obligations. They will keep accurate records and prepare necessary documentation for tax purposes. This reduces the risk of penalties and helps you maintain your charitable status.
What is the Charities SORP and why is it important?
The Charities Statement of Recommended Practice (SORP) sets out the accounting and reporting framework for charities in the UK. It ensures consistency and transparency in financial statements. An accountant experienced in SORP will prepare accounts that comply with legal requirements, making it easier for trustees and stakeholders to understand the charity's financial position.
Can an accountant help with Gift Aid claims for my charity?
Yes, an accountant can help you claim Gift Aid on eligible donations, which allows your charity to recover basic rate tax from HMRC. They will ensure that declarations are correctly obtained from donors and that claims are submitted accurately and on time. This maximises your charity's income without additional effort from your team.
How often should my charity have its accounts reviewed or audited?
The requirement for an independent examination or audit depends on your charity's income and governing document. Charities with an income above a certain threshold must have an audit, while smaller ones may only need an independent examination. A qualified accountant can advise you on your specific obligations and carry out the necessary review.
What services do accountants for charities typically provide?
Services include preparing annual accounts, managing payroll, filing Corporation Tax returns, VAT reporting, and advising on financial controls. They also assist with budgeting, cash flow forecasting, and strategic planning. Some accountants offer training for trustees on financial responsibilities. Their goal is to keep your charity financially healthy and compliant.
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