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Not for Profit

While not-for-profit organisations don’t aim to make lots of money, they are still considered a business. That means that all finances going in and out need to be accounted for.

Non-profit organisations such as charities and social enterprises have more complicated tax needs than regular businesses. For example, a charity won’t owe Corporation Tax because there’s no profit to be taxed on. Instead, charities must register with the Charity Commission if they make over £5,000.

The following must be completed:
  • A set of accounts
  • An annual return
  • A Trustee’s Annual Report

In order to claim for tax-exempt status, your charity must be recognised by HMRC, which can be done by filling in an online form.

Our accountants are experienced in dealing with not-for-profits and will ensure that all your financial obligations are met.

We can help you with:
  • Incorporating your Charity
  • Applying for tax exemptions
  • Recording all revenue and expenses
  • Submitting annual returns
  • Completing a Trustee’s annual report