One of the greatest challenges facing those who are in the not for profit sector is handling corporation tax exemption. While some organisation are exempt from corporation tax, others in the NFP sector must pay this tax anyway. Knowing which status your organisation holds and what their responsibilities are is essential to ensuring that it does not fall foul of the law.
CORPORATION TAX EXEMPTION : WHICH ORGANISATIONS
When it comes to handling the tax obligations of NFP bodies, it is important to consult a firm of skilled accountants like The Accountancy Solution. This is the best way to ensure that you are meeting your tax obligations and that you are claiming exemption as and where necessary to avoid overpaying tax.