legal services - charities & not for profit
Not for profit organisations use surplus funds to achieve their objectives, rather than distributing these profits to shareholders or members. These types of organisations are usually exempt from income tax.
There are a number of different legal structures that can be used to set up a not for profit organisation. These include a company limited by guarantee, a community interest company or a trust.
By meeting certain criteria such organisations can register as charities with the Charity Commission. We have experience in registering both charitable trusts and companies with the Charity Commission on behalf of our more philanthropic clients.
current issues
Our client Friends of the Gondwana Rainforest has now been approved by the charity commissioners.
businesses
It is perfectly possible to set up a business which is not for profit or where a surplus will be created but then utilised for charitable purposes.
Also some charities want to carry on some business activities to raise funds. The legal team liaise with the tax and accounting teams to structure this in the best way.
international
We have experience of setting up not-for-profit organisations in Australia as well as the UK. This often requries separate entities in the other country and can significantly increase your administrative burdens.
individuals
If you are an individual looking to set up a not for profit organisation then we can advise on the most appropriate structures.
We have taken clients through the process of setting up a charity for their own good work. As well as offering very considerable tax benefits it also allows you to remain able to influence how your money is being utilised, even after your death.