If you are a charity with gross income not more then £1m or, where gross income exceeds £250,000, the gross assets are less than £3.26m, then you may opt for an independent examination of your annual accounts rather than an audit.
Whether you operate as an unincorporated trust, a company limited by guarantee or, charitable incorporated organisation, QuayView can carry out this examination, with minimum disruption to your team, within an agreed timetable at a competitive fee.
The requirements of Charity accounts are complex requiring compliance with the Charities SORP, applicable accounting standards and if appropriate the Companies Act. QuayView can take this burden from Trustees ensuring charity accounts are fully compliant and the activities of your charity are properly reported
For social enterprise company, QuayView can ensure that your accounts are properly prepared in accordance with appropriate accounting standards and the Companies Act.
Many believe that charities are exempt from VAT and whilst true for some, if your charity's taxable turnover is in excess of £83k in any rolling 12 month period a you must register for VAT.
Charities may have vatable, exempt and outside the scope income, and also be able to claim VAT relief on certain goods and services supplied to it, therefore, VAT can be complex for charities. Speak to QuayView and we can guide you through this maze and ensure your charity maximises its VAT position.
A VAT health check is a review of your systems to ensure your charity is properly accounting for VAT.
The benefits of a health check are that any unwitting non-compliance is identified and any potential opportunities for saving VAT are identified and acted on.
Whether its the use of trading subsidiaries or the maximisation of gift aid, QuayView can provide advice and guidance to your charity.
Needing investment in your social enterprise or charity. You can receive up to £250k through Social Investment Tax Relief Scheme (SITR) over a period of 3 years.
Benefits to investors include income tax relief up to 30% for qualifying investments and loss relief at your highest rate, in the event the organisation you have invested in fails.
Are you managing and properly documenting the risk to your charity?
Do you understand "free reserves" and what the Charity Commission require in respect of your reserve policy?
Do you have concerns regarding your charity's governance structure?
QuayView can provide advice in these areas and make recommendations to your charity.