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Charity Tax Return

If you are a Trustee of a charity or you run a charity for the Trustees then as a registered charity, you may qualify for a number of tax exemptions and tax reliefs on your income, gains and profits.

 

However, if you have any taxable income that’s not covered by a tax relief or tax exemption you must complete a charity tax return and this charity tax return will have to be filed with HMRC. The type of charity tax return you must complete depends on how your charity is set up.

 

If you are a Trustee of a charity or you run a charity for the Trustees then as a registered charity, you may qualify for a number of tax exemptions and tax reliefs on your income, gains and profits.

 

However, if you have any taxable income that’s not covered by a tax relief or tax exemption you must complete a charity tax return and this charity tax return will have to be filed with HMRC. The type of charity tax return you must complete depends on how your charity is set up.

 

Charitable trusts are liable to pay Income Tax under Self Assessment, so if  you have income which is not exempted or there are no reliefs on it you may be required to fill in a Charity tax return.

 

All other charities are treated as companies and may be liable for Corporation Tax, so will need to file a Company Tax Return.

 

If you are a Trustee of a charity or you manage a charity for the Trustees it is very important that you instruct Accountants such as KR Accountants as we will be able to ensure you obtain all the tax reliefs and tax exemptions available.

 

How we can help

 

If you would like to discuss any of the above please contact KR Accountants so we can arrange a No obligation FREE initial meeting to carry out a business review were we will offer you a FIXED FEE accountancy service with no hourly charges or hidden costs.

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