It is a myth that voluntary organisations do not pay tax!
At a basic level, taxation may take the form of paying non-domestic business rates on premises and, inevitably, VAT on many goods and services purchased by the organisation. Even at this level there are potential savings to be made.
However, with many organisations having to adopt new ways of operating (for example trading or entering into contracts rather than traditional grant funding) it is necessary to be aware of the potential effects of VAT, income tax and corporation tax. Failure to consider these can lead to costly mistakes.
HM Revenue and Customs (HMRC) are now requiring for more data to be submitted using specialist software and LCVS can assist in this process.
Our services include advice and review of your taxation affairs plus, on a regular basis, submission of returns to HMRC. We also assist with the preparation of VAT returns where organisations are required or when it is beneficial for them to be VAT registered.Enquire Now