Charity Accounting

A charity is defined as an organisation established for public benefit, subject to the High Court's charity law jurisdiction.

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Not-for-profit organisations are beginning to face increasingly strict requirements from the Charity Commission in addition with frequently changing policy and legislation. Ensuring your organisation is fully compliant is challenging, and often a drain on precious resources.

Charity Law requires the trustees of charities with gross incomes greater than £1 million/greater than £250,000 with gross assets of more than £3.26 million require their accounts to be audited. If your charity does not fall within this category then an Independent Examination may be more appropriate to evaluate your accounts.

The charity sector faces many accounting challenges which are difficult to overcome alone. Using our in-depth and well established knowledge of charity finance and the NFP sector, Hysons' goal is to support these organisations, enabling them to grow and create an even greater social impact.

In the face of increasing legislative and regulatory pressure on NFPs, the need for efficient management of your finances underpinned by a strong and effective governance structure has never been more important.

At Hysons, Chartered Accountants, we take time in ensuring we tailor our charity accounting service to meet the needs of your organisation. For this reason, our team of specialist accounting consultants will work one-on-one with you to gain a deeper understanding of how we can best help your charity.

From here, we will suggest the charity finance services we think would be best suited to your individual requirements, these include:

  • Charity accounting, auditing, independent examinations, payroll, bookkeeping and advice
  • Tax and VAT planning
  • Full compliance checks on Gift Aid, VAT, and tax
  • Advising on accountancy systems
  • Advice on charity set-up and restructuring
  • Strategic planning
  • Internal control procedures
  • Management accounts
  • Mergers and collaborations, including due diligence
  • Tax compliance and planning
  • Trading activities, using subsidies, social enterprises, and Community Interest Companies (CIC)
  • Audit and independent examination
  • Risk management, compliance and governance

As well as benefiting from a partner-led service, we will keep you up-to-date with key changes and developments in the NFP sector, helping you to run at maximum efficiency and make a bigger difference with funding and donations.

We can provide advice on legislation, the potential tax burden and navigate through the VAT complexity – whether you are a charity, a place of worship, social enterprise, membership or trade organisation.

Why choose Hysons?

Based in Hampshire, our accounting consultants will ensure all possible areas of your organisation are covered, from accountancy, to tax, to corporate finance. We are here to advise you in the areas you need it most in order to flourish. Contact us today for more information on how we can help your NFP grow with our charity accounting services.

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