By law, every charitable company must prepare a set of accounts and a trustees’ annual report. Accounts and reports aim to provide a clear image of your charities activities and financial position. The trustees’ annual report is also where you can show off the work you do to the public and to funding bodies.
These requirements may seem overwhelming to a smaller charity, it doesn't have to be, and outlining your aims and activities clearly can assist you in managing your finances well, and ensure your organisation is more effective.
What do you need to prepare?
There are a few factors which determine which type of accounts a charity has to prepare.
Accountancy companies can help you build your portfolio and keep you up to date on your records. When you start working for yourself, be it as a contractor, a limited company owner, a freelancer or consultant, your priority is to generate business and fulfil the work you have won.
5 benefits why your business should have an accountancy firm.
It can save you time:
An accountant can update you with the latest tax laws, rules and regulations and deadlines, not to mention one who completely understands what format HM Revenue. Companies are responsible to file their accounts and taxes to the HMRC. Accountants can save you hours of time by helping you to file the necessary returns and claim all reliefs you are entitled to.
Reduce your tax liability:
An accountant can...
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