Not For Profit

There are many different not-for-profit legal structures:

The administration, governance and accounting requirements of such organisations is governed by legislation, accounting SORPs and internal constitution. We have established a specialist team of not-for-profit expertise, who currently act for clients in various sectors:

  • Local and national charities,
  • Registered social landlords,
  • Private members clubs,
  • The Theatre,
  • Religious organisations,
  • Organisations set up to own and maintain a protected asset,

We find that the services that these clients are most interested in are:

Compliance Services

  • Preparation and submission of annual accounts,
  • Different levels of assurance on these accounts:
    • None,
    • Independent Examination,
    • Audit,

Outsourced Services

Advisory Services

  • Advice on the most appropriate operating structure,
  • Tax issues perculiar these types of organisation (including mutual corporation tax status, CASC, gift aid reclaims and partially exempt VAT returns),
  • Making ourselves available for general support services, including attending your AGM, if required.
  • Building up and investing surplus funds and the related fund accounting,
  • Advice on governance issues.

Instruct us to prepare your statutory accounts and we shall unburden you of the worry of correctly complying with the relevant legislation/SORP. We shall also ensure that these accounts are prepared in sufficient time to be filed with the relevant Authorities by the statutory filing deadlines and for your AGM. When preparing these accounts, we shall be mindful of your beneficial tax status and we shall actively seek proven techniques to enable you to reclaim further tax.

Latest Blogs in Not For Profit
Jaimie King
4th January 2018 Charity annual returns due

  Charities with the financial year end of 31 March 2017 must submit their annual return by 31 January 2018, 10 months after the year end. What you need to submit varies based on whether it is an un-incorporated organisation or a charitable company. It also varies based on income of the charity – requiring…

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Paul Tatum
9th August 2017 Charities bound by new Fundraising Preference Service

  A new service is now available for individuals who want to limit the contact they receive from charities. The Fundraising Preference Service (FPS) should give individuals greater control over how and when charities can contact them. The FPS, which launched on 6 July, allows individuals to select charities that they no longer want to…

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Mark Haydon
21st March 2016 Not For Profit Funding

Community Business Fund Grants: Apply now. If you operate a community business or a trading not for profits organisation then there are grants being awarded between £50k – £300k to support and develop these activities.  Applications for grant funding opens on 26h April 2016 and you can register your interest from 5th April 2016. See the…

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Paul Jefferson
3rd July 2015 VAT Tribunal

Charities VAT: investment management fees are now reclaimable. A tribunal finding in favour of Cambridge University Endowment Fund could lead to financial benefit for a host of charities who have previously been unable to reclaim input VAT on ‘non-business’ investment fund fees. The Cambridge University Endowment Fund argued that it could reclaim some of the VAT…

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Paul Tatum
1st May 2015 Charity Audit Legislation

Charities: Changes to audit exemption thresholds. Changes to charity audit thresholds came into force on 31 March 2015, aimed at reducing the regulatory burden for charities. They include increasing the basic audit threshold from £500,000 to £1 million, meaning less charities will be required to subject their accounts to a statutory audit. Those charities can instead…

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Paul Tatum
16th July 2014 Charity Accounting Disclosures

New Charities SORP Published The new Charities SORP was published today and will apply to the accounts of charities for financial years commencing on or after 1 January 2015. There are two versions, one based on Financial Reporting Standard FRS 102 (new UK GAAP which replaces all earlier financial reporting standards) and a second for…

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Richard Alecock
6th May 2014 CIC’s

Dividend Cap on CIC’s. Community Interest Companies (CIC’s) are a relatively new type of company designed for enterprises with social purpose that want to use their profits and assets for public good. There are now over 8,000 CIC’s on the public register at Companies House. However, CIC’s are subject to an asset lock to ensure…

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Ian Piper
10th September 2013 Business Rates Relief

Higher Business Rates for Not for Profit Organisations within East Cambs District. Since March 2012, East Cambridgeshire District Council (ECDC) has been reviewing it’s policy on granting Discretionary Relief on business rates to give assistance to charitable and not for profit organisations that may have difficulty in paying their rates and are of benefit to the…

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