“Our in-depth knowledge of the regulations ensures you can account correctly for every type of donation your charity receives”

To successfully achieve their financial goals, charities need to be run like any other business. The similarities stop, however, when it comes to finance and taxation.

The rules and regulations which apply to charities go far beyond those of commercial companies, with not-for-profit organisations facing many additional financial and legislative issues.  The complexity of the charity accounting rules, means specialist knowledge is essential to help an organisation comply fully with legislative requirements.

Our specialist Charity team works with many charities throughout Ayrshire and Lanarkshire, ranging from small trusts and community interest groups, to multi-million pound organisations. The team is headed up by partner Stephen Bargh, assisted by Senior Manager Neil Reid. Stephen and the team attend regular specialist training courses in the charity sector, including those run by ICAS (Institute of Chartered Accountants of Scotland).

Accounting correctly for each source of income, we ensure our clients are complying fully with all relevant legislation and regulatory bodies. Helping them take full advantage of the tax and VAT opportunities available to them, we offer clients advice on all aspects of finance, from the tax implications of charitable trading, to Gift Aid and grant and lottery applications. We also provide our clients with a valuable business edge to improve their performance in an increasingly competitive sector.

Key areas of expertise:

  • Income recognition, including  capital and revenue
  • Controls & safeguards
  • Cost control & budgeting

Additional support for your business:

With our extensive knowledge of the charity sector, we also provide you with expert advice on:

  • The formation of charitable limited companies (limited by guarantee or SCIO)
  • Risk assessment on setting up branches and charity shops, including VAT
  • Tax implications of charitable trading
  • Gift Aid claims and changes to legislation
  • Grant and lottery applications
  • Compliance with regulatory and statutory filing and disclosure requirements

For further information, please contact Stephen Bargh or your local William Duncan partner.