VAT and Taxation Advice for Charities in London
The specialist team at Bourner Bullock can help with a range of taxation issues, and have experience in working with charities of all sizes. Contact our advisers for further information on areas such as Gift Aid, Corporation Tax and VAT, along with other issues pertinent to charities.
VAT
VAT can be a cumbersome and complex tax, and seeking the support of specially trained professionals is always advisable. We can ensure that your charity is registered for VAT as well as assessing the mix of charitable and trading activity, which can have tax implications if not carried out properly.
We provide an efficient VAT service, which includes:
- Planning to minimise future problems with HM Revenue & Customs
- VAT control and reconciliation
- Use of the most appropriate scheme
- Negotiating with HM Revenue & Customs in disputes and representing you at VAT tribunals
- Help with completing VAT returns
- Advice on VAT planning and administration
- Assistance with VAT registration
Even if a charity is VAT registered, there are many VAT reliefs available which may be beneficial to you. Bourner Bullock can offer all of our charity clients a 'VAT Health Check' to identify any VAT planning opportunities and ensure that they are accounting correctly for VAT.
Trading activities
If not organised correctly, trading activities by a charity may be liable to income tax or corporation tax. Bourner Bullock offer specialist advice on how to undertake tax-efficient trading - please call us for details.
Tax returns
Charity trustees have a legal responsibility to work out the corporation tax owed. Bourner Bullock can calculate this on your behalf and prepare the necessary tax returns.
The set up of your charity (i.e. trust or charitable company) will determine which type of tax return you will receive. Information on your charity's set up will be detailed in your governing document.
Most charities are treated as companies for tax purposes as they were set up by:
- a Constitution
- an Act of Parliament
- a Royal Charter
- a Memorandum & Articles of Association
Where charities are treated as companies, they are liable to pay Corporation Tax. HMRC views the charity as a trust if it was set up by a trust deed or will. Charitable trusts must pay Income Tax and Capital Gains Tax by completing a Self Assessment Tax Return.
General tax advice
Our experienced advisers will work alongside you and your organisation to make sure you do not pay more tax than is necessary, whilst complying with the appropriate legislation. Furthermore, our experts will keep you up-to-date on any changes in tax law which may affect you.
Contact Bourner Bullock in London for advice on a range of taxation issues affecting charities and the not-for-profit sector. Our charities team take pleasure in assisting organisations to minimise their tax liability and would be happy to share their expertise.