Root and branch
Lorraine Owens demonstrates that charities need their feet on the ground when it comes to tax compliance
My gardening hero, Geoff Hamilton, once said ‘a weed is only a plant in the wrong place’ and so it is with income and expenditure in a charity and its trading subsidiary. You must ensure that income and expenditure is in the right place. The purpose of this article is to alert you to the very real potential for errors (higher than many people expect), which could result in your charity facing an unexpected bill for corporation tax, arising from non-exempt income or non-charitable expenditure in your charity.
Author: Lorraine Owens
Lorraine Owens is a tax manager at haysmacintyre looking after clients in both the commercial and charity sectors. Lorraine was formerly on the management committee of the Charity Tax Group and is a member of the Association of Taxation Technicians.
There are no comments on this article. Be the first to comment.