charities

A specialist market requires a specialist approach

As specialist charity accountants, you can be confident that we are able to help you deal with the many issues you may face in an increasingly complex financial and tax arena.

We help our clients to maintain a financially sound organisation focused upon meeting their core objectives. We do this being able to advise on:

  • risk assessment
  • strategic and financial planning
  • assisting with all their regulatory and financial reporting obligations

Our costs are agreed and fixed at the start of an engagement and we do not charge for adhoc communication, so that clients have clarity over their costs at every stage.

Free no obligation financial health check up

By developing an in-depth understanding of all the stakeholders needs, we aim to provide expert advice and year-round support to management and trustees in every area of charity finance.

With our help you will be better equipped to manage your charity and deal with any changes that take place, both legislative and of your own choosing, so you make the right decisions to improve the effectiveness and success of your organisation.

Contact a member of the specialist taylorcocks charities team to see how we can help you.

accounting

Financial reporting for charities is a complex area, with frequent changes to the reporting and regulatory requirements. As well as the Statement of Recommended Practice : Accounting and Reporting by Charities (issued in March 2005) and Charities Act 2006, many charities need to ensure they also comply with the Companies Act 2006 and Financial Reporting Standard for Smaller Entities.

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auditing

We do not look upon the audit as a purely procedural exercise but regard it as an opportunity to understand an organisation in depth, to identify opportunities to improve systems and controls and generally contribute to the security and prosperity of our clients.

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Regulatory & Strategy Assistance for Charities

The Charity Commission has significantly increased the number of investigations it makes into voluntary organisations, and is generally taking a more robust approach to its enforcement role. We can assist charities with their communications and responses with the Charity Commission and help charities prepare for visits.

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taxation

As traditional sources of income have come under pressure, even smaller charities now routinely set out to earn revenue through retail and charging for services. But they could be exposing their funds to corporation tax, or even jeopardising their charitable status. One of the more effective solutions is to create a trading subsidiary to conduct the taxable revenue, which then passes on all the profits to the sponsoring charity. If implemented correctly, tax liabilities are avoided and the charitable status will not be lost.

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vat

With the VAT rate increase and the continuing withdrawal and watering down of VAT concessions it is essential you have a VAT adviser that not only has the technical experience in advising this sector but appreciates your individual aims and objectives.

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