Corporation Tax - Company Limited by Guarantee
Hello, I hope someone can help!
I am a CIMA public sector accountant but I have recently taken on a voluntary role with a small not for profit organisation. Unfortunately they need to submit their first set of accounts to companies house in a week's time!
I have prepared the accounts and from what I can see they owe a fair amount (relative to their size) in corporation tax. They are funded by grants and donations, and mostly organise events and raise awareness.
Is there any way I can avoid this? If they were to apply for charitable status after paying HMRC, could this amount be claimed back?
Many thanks in advance for any help!
- B2B vat in the EU 154 4
- Coding Notice 185 6
- VAT on Hire Purchase 61 1
- Are there Special Rules for Agencies? 361 9
- Samadian effect on self employed student support workers 176 4
- Changes to class 2 NIC's 194 3
- Client RTI Shows payments not his 159 4
- UK company paying dividend to foreign shareholder 152 3
- LLP as member of LLP 108 1
- Why should I retain membership? 2,760 48
- Alerting clients versus walking away from clients 465 7
- Vat 288 7
- SA online - 4 hour limit 1,287 13
- Recharge for private use of a company car 198 3
- Funding Circle Servicing Fee 175 2
- Surprise visit from HMRC! 2,498 18
- CT/CIS offset 154 2
- Statutory accounts, current company address, or one that was correct at EOY? 203 4
- Trade name 202 3
- Musician - Allowable Travel expenses 146 1
- Auto enrolment excuses 828
- Feedback on accounts production software for IFRS 712
- Add T&Cs to Sales Order in Sage 395
- Social investment tax relief 211
- Digita Hosted Software 207
- Call Centre Data Costs 195
- Buying goods in US and selling them to company in US 167
- Travel costs and contractors 159
- Problems with Sage 50 Payroll v21(2015) 152
- accounting for this transaction 152