Social Club Accounts
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JuliaD
Registered Posts: 1 New contributor 🐸
Hi
I have just completed Technician exams and am awaiting results. I am a member at a local social and bowling club. The building is owned by someone who rents it to the members. All wages, expenses, rent etc are paid by income from club membership and bar sales. One of the members does the books manually, but they have just asked me to 'check' their accounts for the year end. The club is not VAT registered and is under the threshold, nor is it a limited company.
Does anybody have to actually check the books, ie an auditor or qualified accountant or can their books just be audited by two independent members? What about corporation tax?
I want to help them out, but I'm not sure just what I am able (or qualified) to do for them.
Any advice greatly welcome. :confused1:
I have just completed Technician exams and am awaiting results. I am a member at a local social and bowling club. The building is owned by someone who rents it to the members. All wages, expenses, rent etc are paid by income from club membership and bar sales. One of the members does the books manually, but they have just asked me to 'check' their accounts for the year end. The club is not VAT registered and is under the threshold, nor is it a limited company.
Does anybody have to actually check the books, ie an auditor or qualified accountant or can their books just be audited by two independent members? What about corporation tax?
I want to help them out, but I'm not sure just what I am able (or qualified) to do for them.
Any advice greatly welcome. :confused1:
0
Comments
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I would have thought they need an "independent examiners report". Check this with them. And then yes, if there turnover is below the threshold for an auditor requirement, and you are MAAT, then yes, you will be able to do this. Check out the charity commission's website for more info.0
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