Accounting Services For Charities & Not For Profits

Audit Requirements for Charities

Charity Law requires the trustees of charities with the below require their account to be audited
• more than £25,000, but not more than £1 million, provided that
• if its gross income is more than £250,000, its gross assets (fixed assets plus current assets) are £3.26 million or less
If your charity does not fall within this category then an Independent Examination may be more appropriate to evaluate your accounts.

Why Your Charity May Need Specialist Accountancy Services

The charity sector is experiencing significant changes with increased regulatory scrutiny and evolving donor expectations. Specialist accountancy services are essential for ensuring compliance with the latest financial regulations and reporting standards.

With expert guidance, charities can navigate the complex landscape, adapt to changes, and strategically plan for long-term success while staying aligned with their mission.

At Hysons, we want to help not-for-profit organisations and charities, through our expert knowledge, we can help your organisation succeed.

Our Accounting Services For Charities

At Hysons, 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

These services are designed to help charities navigate regulatory requirements, maintain financial transparency, and achieve their mission effectively.

• Tax and VAT planning

Tax and VAT planning services help charities ensure they are compliant with UK regulations while maximising financial efficiency. Our expert team provides tailored advice on tax reliefs, VAT recovery, and strategic planning to optimise your charity's financial operations and minimise liabilities.

• Full compliance checks on Gift Aid, VAT, and tax

We conduct thorough compliance checks on Gift Aid, VAT, and tax to ensure your charity meets all regulatory requirements. Our team will review and advise on all aspects of tax obligations, helping to maximise available reliefs and maintain financial health.

• Advising on accountancy systems

At Hysons, we advise charities on selecting and implementing efficient accountancy systems, ensuring accurate financial management. We can also provide recommendations to streamline operations, improve record-keeping, and enhance reporting capabilities.

• Advice on charity set-up and restructuring

We offer expert advice on charity set-up and restructuring, helping organisations establish a solid foundation and optimise their structure for efficiency and compliance. Our services include guidance on legal formation and governance to ensure your charity is well-positioned for success.

• Strategic planning

At Hysons, we provide strategic planning services to help charities achieve their long-term goals and mission. Offering tailored advice on financial management, growth strategies, and risk management to ensure sustainable development and impact.

• Internal control procedures

We provide expert advice on establishing robust internal control procedures for charities, ensuring financial integrity and compliance. This includes; assessing current practices, recommending improvements, and implementing effective controls to safeguard assets and enhance accountability.

• Management accounts

Our comprehensive management accounts services help charities monitor financial performance and make informed decisions. Preparing detailed reports, providing insights into income, expenditure, and cash flow to support effective financial management and strategic planning.

• Mergers and collaborations, including due diligence

We offer expert guidance on mergers and collaborations, performing thorough due diligence to ensure smooth transitions and optimal outcomes for charities and not-for-profit organisations.

• Tax compliance and planning

At Hysons, we also provide specialised tax compliance and planning services to help charities and not-for-profits navigate complex tax regulations and optimise financial efficiency.

• Trading activities, using subsidies, social enterprises, and Community Interest Companies (CIC)

We can advise on trading activities, including the use of subsidies, social enterprises, and Community Interest Companies (CIC), to diversify income streams and enhance sustainability.

• Audit and independent examination

We frequently conduct thorough audits and independent examinations, ensuring financial accuracy and compliance with regulatory requirements for charities.

• Risk management, compliance and governance

At Hysons, we can offer comprehensive risk management, compliance, and governance services, helping charities maintain integrity, transparency, and effective operational control.