Keeping you up to date on the latest accounting and tax issues

Charities struggling to secure accountancy support

A report published by the Charity Finance Group (CFG) indicates that charities are, generally speaking, struggling to secure accountancy support.

What’s going wrong?

The findings indicate that there has been a significant decline in the number of service providers in recent years. Not only this but, of those available, many providers often fail to satisfy charities needs due to being small organisations themselves.

A ‘cap on capacity’ does not help charities operating in an already challenging environment, especially those struggling to stay abreast of developments and changes in complex areas such as tax. In addition, a key issue identified in the report is the difficulty providers experience when it comes to communicating with charities about the services they provide.

The recommendation is that providers, foundations and the Government should cooperate and collaborate to improve the current situation. They must agree measures that will give providers the chance to increase capacity and charities the opportunity to secure appropriate support.

How can we help?

If you’re in need of accountancy support and guidance, tailored to the requirements of your charity, then we can help. We have a specialist team to support the not-for-profit sector, providing accounting and advisory services to charities, academies, clubs and social enterprises of all sizes.

The support we offer to charities and not-for-profit organisations encompasses the following:

  • Ensuring that Trustees understand their roles and responsibilities
  • Appraising and strengthening governance procedures
  • Forecasting, benchmarking and other performance related activities
  • Assisting with setting accounting policies that are consistent with the Charity SORP
  • Making the most of financial information through impact reporting
  • Advice on setting and monitoring reserves policies
  • Identifying tax planning opportunities, including maximising gift aid and VAT efficient trading structures
  • Guidance on social enterprise structures such as CICs (Community Interest Companies)
  • Providing ideas for diversification of income streams, fundraising activities and securing grant income

If you would like to find out more about the services we offer to charities, or if you would like to discuss your circumstances with one of our advisers, contact us today on 01480 426500.

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