charities tax exemptionsAre you responsible for running a registered charity? Do you know which tax exemptions you may be eligible for or what taxes you are not immune from?

Organisations must meet specific criteria to be defined as a charity for tax purposes. They must be established for charitable purposes only, be registered with the relevant regulatory body and be managed by fit and proper persons.

If these conditions are met you can apply to HMRC to register. Then you would be eligible to take advantage of some of the tax exemptions and reliefs available.

The tax situation can become more complex when you are also dealing with non-charitable trading profits, expenditure and VAT.

If tax is owed then the charity must submit a tax return, and, of course, like any other organisation, they are responsible for ensuring proper accounting, reporting and auditing procedures.

For more information please visit: www.gov.uk/charities-and-tax or why not talk to one of our experienced managers, call us on Bridport 01308 423237, Weymouth 01305 881009 or use our Contact page.