Let us help you to help others with specialist charity and not-for-profit accountancy services from Accountants Plus.
The charity and non-profit sector is one of the most highly regulated in the UK, with seemingly never-ending changes to funding rules and accountability obligations.
We know that all you want to do is focus on the great work that you are doing, but with such strict legislative and regulatory pressures in place, a single bookkeeping or accounting mishap could have disastrous consequences for your organisation.
Too many accountancy firms treat charities the same as a standard business, but whilst there are many crossovers there are also many challenges and obligations unique to the third sector.
From Gift Aid compliance and independent examinations to management accounts compliant with the Charities Act and Charities SORP, the world of charity accounting can be complex and confusing at the best of times, and keeping track can become overwhelming.
Choose the vast charity sector experience of Accountants Plus
As one of the top charity accountants in Scotland, we are here to take the pressure off, with a team of specialist chartered accountants who are vastly experienced in helping charities and social enterprises to thrive. We know that every penny counts in the third sector and with our team of charity accountants by your side, you can maximise the money that makes it to the places that matter the most.
When you choose Accountants Plus, you can relax, safe in the knowledge that all your bookkeeping, accounting, auditing, and taxation needs are being met by one of the most experienced charity and not-for-profit accountants in Central Scotland.
Charity Accounting Services
Just some of the services our specialist Glasgow accountants provide to charity sector organisations include:
- Specialist auditing compliant with Charities Act, Charities SORP and other relevant legislation.
- Handling applications to the office of Scottish Charity Regulators to obtain charitable status.
- Funding/donation tracking and reporting
- Grant, donor, and trustee management
- Ensuring Gift Aid eligibility
- Legacy gift reporting
- Taxation and VAT advice
- Bookkeeping
- Internal Auditing
- Cash Flow Forecasting
Why Choose a Specialist Charity Accountant?
Running a charity or not-for-profit organisation is very different to running a business, so why would you choose an accountant who treats them as the same thing?
Yes, there are many crossovers between the two in regard to payroll, corporation tax, accounts preparation, and the like, but there are also a number of challenges and opportunities that are unique to the charity and not-for-profit sectors.
Direct Government funding to the third sector has fallen massively in recent times, putting even more reliance on charitable donations, grants, funds and charity trustees.
This has dramatically increased the complexity of legal compliance and keeping up with the latest rules and regulations that charities and non-profit organisations must abide by has become a full-time job. Luckily for you, this is exactly what it is for the expert accountants working in our charity team!
Ensuring compliance for non-profit organisations
We have been providing charity accounting services for many years now adapting our advice and services according to the very latest charity legislation and guidance.
Only in 2023, for example, were significant alterations made to the Charities Act, introducing a new register for charity trustees and requiring the OSCR to publish the accounts of all charities on the Scottish Charities Register.
If you operate in the non profit sector, it is crucial you arrange accounting services with a firm that not only has a fantastic reputation amongst their clients but who possesses specific charity expertise and has a track record of success in this highly specialist sector.
Charity Audits and Independent Examinations
The threshold for statutory audits is far lower for Scottish charities than it is for businesses.
Any charity with an income over £500,000 or assets exceeding £3.26 million is legally required to have an audit whilst charities operating below this threshold must have an independent examination of their accounts arranged by a qualified accountant.
We are one of the only accountants in Lanarkshire qualified to perform statutory audits, non-statutory audits, and independent examinations, making us the number one choice for charities and not-for-profit organisations of all shapes and sizes.
To learn more about our charity audits or any of the other specialist services we provide get in touch with Accountants Plus today on 01698 281 554.
Help your organisation thrive with advice from specialist charity accountants
We don’t just help charities and not-for-profit-organisations survive by keeping them compliant. We help them thrive, maximising income available through Gift Aid and charitable trading through the power of smart taxation and accounting advice.
There are many opportunities available to charities and not-for-profits that are not available to profit-driven businesses including tax relief on charitable giving, legacies, Gift Aid, and more.
Making the most of these is essential to making sure the maximum amount possible goes to the causes that matter the most, and a specialist charity accountant is the key to doing just that.
When you work with Accountants Plus, you will be given a dedicated charity accountant that has a vast knowledge of all the intricacies of accounting in the third sector, giving you the time, space, and funding to make a real difference.
Setting up a New Charity
If you are looking to set up a new charity or community interest company having a specialist accountant assess your plans and help create a structure for success is an absolute must.
Even if you are already a highly successful businessperson, the world of charities and not for profit organisations can be littered with pitfalls. Many charity projects fail due to innocent errors made solely due to a lack of familiarity with the complexities of charity tax or charity finance, such a shame when you consider the great work they had planned.
Set your new venture up for success and ensure all your accounting needs are taken care of with the bespoke charity services of the experts at Accountants Plus.
From choosing the structure of your organisation (charitable companies, trusts etc.) to applying to the HMRC for charity status and ensuing Gift Aid eligibility, we will guide you through the entire process providing support, advice, and guidance whenever you need it.
We also work closely with the charity commission, OSCR and other regulatory bodies to ensure you remain compliant throughout and have the processes in place to remain so for many years to come.
We stay up to date so you don’t have to and take great pride in providing a proactive, knowledgeable and professional service to charities and non-profits in Hamilton, Glasgow, Lanarkshire, and beyond.
Get in Touch with Specialist Charity Accountants Today
For more information on our charity accountancy services, contact Accountants Plus today on 01698 281 554.
