Online Charity Accounts & Independent Examination Services

At Taxwise Accountancy, we understand that managing finances for a charity requires expertise, precision, and adherence to strict regulations. We specialize in providing online charity annual accounts and independent examination services for all types of charities across the UK. With a proven track record, we ensure your financial records align with the Charity Commission's guidelines and the Statement of Recommended Practice (SORP).

Whether you're a small community group or a large charitable organisation, our services are tailored to help you maintain transparency, accountability, and trust with stakeholders and donors.

Charity Accountants Accreditations

Taxwise Accountancy provides expert accounting services for charities registered with Charity Commission. Our online accountant hold qualifications from reputable organizations such as ACCA, AAT, and IFA.

Understanding Charity Accounts in the UK

The UK has stringent rules governing charities to ensure ethical financial management and protection against misuse. All charities must prepare accounts and annual reports that meet legal requirements. Here’s an overview of the types of charities and their specific accounting needs:

Types of Charities in the UK

Charitable Incorporated Organisations (CIOs):

  • Legal entities with limited liability for trustees.
  • Must follow SORP and submit accounts to the Charity Commission.

    Charitable Companies:
  • Registered both as charities and companies, subject to dual regulation by Companies House and the Charity Commission.
  • Requires compliance with both company law and charity law.

Unincorporated Charities:

  • Informal organisations or small charities with fewer regulatory requirements but still need proper financial oversight.

Charitable Trusts:

  • Managed by trustees holding assets for specific charitable purposes, often needing detailed financial records and reporting.

 

What Records Should Charities Keep?

Charities must maintain clear and comprehensive records to ensure compliance with the Charity Commission’s guidelines:

  • Income Records: Donations, grants, and other revenue sources, with evidence such as receipts or funding agreements.
  • Expenditure Records: Invoices, receipts, and expense logs to track how funds are used.
  • Bank Statements and Reconciliations: Regularly updated financial records for transparency.
  • Asset and Liability Records: Details of owned assets, leases, and debts.
  • Meeting Minutes: Decisions made by trustees, including financial and operational approvals.

FAQs

  • What is an independent examination, and when is it needed?

     An independent examination is a review of a charity’s financial statements by a qualified accountant or examiner. Charities with income under £1 million that do not require a full audit typically need an independent examination. 

  • Do you offer services for small charities with limited budgets?

    Yes, our small charity accountants provide affordable and effective solutions for smaller organisations, ensuring they remain compliant without straining their finances.

  • What happens if charity accounts are not prepared according to SORP?

    Failing to comply with SORP can lead to regulatory scrutiny, loss of donor confidence, and penalties from the Charity Commission. We ensure full compliance to protect your charity’s reputation.

  • Can your services help prevent money laundering risks?

    Absolutely. We assist charities in implementing robust financial systems and practices to safeguard against money laundering and fraud.

Contact Our Accountant for Charity Annaual Accounts

Submission Successful

The form has been successfully submitted. One of our accountants will get back to you as soon as possbile.

Cookie 🍪
We use cookies to improve your experience on our site.