Charities are bound by law to be accountable to the public. Regulatory compliance is essential, and part of this includes accounting. You can ensure compliance by taking on Sterling Finance as your registered charity accountant.
Charities are able to carry out trading activities that are directly related to their charitable aims and objectives. They’re also allowed to trade as a way of raising money, as long as the level of trading is small and there’s no significant risk to their assets. For definition, trading means the selling of goods or services to customers.
Usually, this involves selling on an ongoing commercial basis, but sometimes a one-off or occasional venture may be treated as trading for tax purposes. The trading profits that your charity makes may be exempt from tax, depending on the type and scale of the trading activities. Your registered charity accountant will be able to advise on this.
Charities and non-profit making organisations are accountable to the public, and by law, they have to provide certain information about the way in which they operate and how they use their resources. Basically, they have to be transparent.
We help charities use their resources efficiently and ensure legal compliance. We also provide tailored advice to charities and their trustees to help them continue to operate effectively. We can advise on the most tax efficient structure for your charity and prepare all your accounts. We can also provide bookkeeping services.
To discuss your charity’s accountancy needs with our registered charity accountant, call us on 0161 339 4989 for a friendly, no obligation chat.