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!