Charity and not-for-profit organisations
Developments in legislation, new guidance from the Charity Commission and changes to the rules on taxation mean charities regularly have to review their financial management and reporting practices. Not for profit specialists at WMT provide professional, relevant, and up-to-date advice on the accounting, audit, tax and governance aspects of effectively managing and reporting on your organisation.
Our service is effective, because we take the time to listen to your specific needs which enables us to provide focused financial advice along with charity accounting guidance, audit, tax, and other services.
You will find our approach is objective yet personal, offering you independent expert insight and year-round support, often acting as an informal sounding board when you need a fresh perspective.
Specialist charities advice from WMT
Audit and independent examination
We are experienced in undertaking audit and independent examinations for charities and not for profit organisations, ensuring they comply with rules and regulations, including those set out by the Charities Commission. Our approach assesses areas of financial risk as part of the process and includes recommendations for the trustees and management to assist with managing these risks.
We assist in preparation and submission of charity and not-for-profit accounts, adapting them to meet the ever-changing legislation and guidance.
You will benefit from our advice on:
- minimising taxation and claiming available reliefs;
- non-charitable trading within the charity;
- Giftaid and the Giftaid small donations scheme – to enable you to make the most of this relief whilst complying with its strict regulations;
- VAT to ensure you secure available VAT reliefs, maximise VAT recovery, and remain compliant with VAT rules as they change or are affected by case law.
We advise on governance procedures, risk management strategies, reserves policies, and improving internal controls.
Charity SORP and FRS 102
We keep you informed on the latest revisions to the UK financial reporting standards and how they affect your accounting and reporting practices.
Get in touch with our charity and not-for-profit team to find out more about how we can help you.