GMcG Charity Team
Our Charity Team has a wealth of experience in working with clients across NI in the charitable and not for profit sector. We understand the issues and opportunities unique to this sector, delivering bespoke client focused solutions that really make a difference.
Our specialist knowledge includes the following key service areas:
Charity VAT Advice
- Charity income - advice on the VAT status of charity income and review of funding agreements with government departments and other funders
- Partial exemption - negotiation of business/non-business and partial exemption special methods with HMRC to maximise input VAT recovery
- HMRC disputes - representing charities which are in dispute with HMRC in respect of their VAT affairs
- VAT on property - advice on mitigation of VAT on the purchase, construction or rent of property to be used by charities
- International - VAT advice on cross-border operations and access to international expertise via our TIAG® membership
- VAT compliance - review of quarterly VAT returns, production of staff VAT manuals, provision of staff VAT training and advice on Making Tax Digital for VAT
Charity Tax Advice
- Tax advice on the setting up of charities and application to HMRC for charitable exemption
- Advice on tax efficient structures for charities including the use of a trading subsidiary where the charity has activities outside of its charitable objects
- Advice on the application of charitable tax exemptions to the charity’s income
- Provision of corporation tax compliance services to charities and not for profit organisations
Charity Audits and Accounts
- Advice on requirements to ensure compliance with Charity Commission and new Charity Accounts Regulations in Northern Ireland
- Preparation of financial statements in accordance with Charities SORP, including conversion of accounts on first time adoption of Charities SORP
- Digital accounting and bookkeeping services, including preparation of regular management information in line with Charities SORP accounting requirements
- Audit and Independent Examination services in accordance with Charity Commission requirements
- Advice on incorporation of trading subsidiaries and preparation of consolidated group accounts
- Advice on governance, internal controls, risk management and reserves policies
- Assisting Trustees with forecasting and business planning and advising them on their responsibilities
Charity Forensic Accounting & Investigation
- Charity fraud investigations at the corporate and individual level
- Computer forensic expertise - digital capture of electronic evidence of fraud and inappropriate use of / downloads to charity computer systems
Charity Collaborations, Mergers & Acquisitions
- Financial, tax and VAT advise on charity sales, mergers and acquisitions including working with legal advisers to achieve a successful outcome
- Undertake financial, tax and VAT due diligence in relation to charity sales, mergers and acquisitions
- Advice on the financial, tax and VAT implications of charity collaborations and partnering
GMcG’s Charity Team provides specialist services to advise and support the charity and not for profit sector and would welcome the opportunity to meet with you to discuss your organisation’s affairs.
For a free consultation on any of our specialist services, please contact a member of the GMcG Charity Team.
Lyn is head of Taxation Services at GMcG Chartered Accountants. She has over 20 years’ extensive experience in providing VAT and tax consultancy to the charity and not for profit sector with significant successes and regularly presents in this area.
Eddie has over 12 years’ experience providing VAT advice to the charity and not for profit sector in areas such as the VAT status of income, input VAT recovery, disputes with HMRC and property transactions.
Nigel has over 15 years’ experience in the provision of audit, assurance and financial reporting services to the charity and not for profit sector, and has lectured to members of Chartered Accountants Ireland on Charity Audit and Accounts.
Gabriel is one of the lead partners in GMcG’s Forensic Accounting & Investigation team. He specialises in financial crime and investigation which has seen him work on some of the largest and most complex financial crime and proceeds of crime cases in Northern Ireland.