charity business - FIA and tax

[EnzoMC]

hi - not really maserati subject, but know that a few on here I think have there own businesses, obviously not to advertise my business (rules) so will keep this high-level.

I have come to my first business tax return and for my normal one I have no issues filing this in, but now I have a business were I donate most of the income to cancer chairty its a hole another ball game. I am getting through it but want to know if it is worth doing this myself or getting an FIA to do this. a few quote from FIA is about £350 - £500 and I don't earn from this business (my time is also donated) as its mainly for cancer chairty so need to keep business cost down, or will an FIA get me less tax to pay or better a refund


admin - hope this is OK to post here, if not PM me let me know and you can remove

 

[EnzoMC]

do we have any finance members or members that own business ?

also I said FIA maybe it's IFA. (finance advisor)

 

[Easyplan66]

In my experience using a good accountant and financial advisor who can work together will always save you money/tax in the long run.

 

[EnzoMC]

In my experience using a good accountant and financial advisor who can work together will always save you money/tax in the long run.

thank you and I do agree its just the cost / extra overheads on the business and was seeing if this is the best way to go - I'll look at offering my services as part payment and see if this gets the cost down, if not I think its over to an accountant

 

[lozcb]

I would tend to look for an accountant who may offer his advice /services for free seeing as its purely for charitable purposes, im sure their governing body would point you ion the right direction ,other rthan that might be worth paying for services to show you the correct system so in future you can just follow the same procedure



regards loz

 

[conaero]

I was thinking along the same lines as Loz. If we had a member on here I am sure they would help but no one springs to mind.

Hang on, there is one guy. I met him at the last Ace cafe meet, think his name was Lance, and drove a blue Spyder.

He goes by Blue520, here is his profile worth sending him a pm:

http://www.sportsmaserati.co.uk/member.php/147-blue520

 

[EnzoMC]

thanks all for the feedback, I'll PM Mr Blue520 and see if he would like to exchange services.

 

[conaero]

Just looking through the members database, this person is a Tax Advisor: Wardlem try sending him a PM.