Post formation and post incorporation support for a charitable trust company: over recent years, it has become more and more common for charities to register as companies. Charitable trusts are run under a 'trust deed' that sets out what the charity's aims are and how it is to be run and managed. The trust deed also sets out who will run the charity - the 'trustees'.
The recent trend towards trustees seeking charitable trust company formations has perhaps come about because of greater awareness of the benefits of incorporation for a charity. As with any business, incorporation means that the organisation takes on its own legal status. It becomes a 'body' or 'person' in the eyes of the law, capable of owning property and being responsible for its decisions. Of course, the trustees are still the same people as before incorporation, but they are no longer personally liable for anything that might happen to the company.
If you are a trustee of a charity, charitable trust company start-up probably sounds like a very attractive prospect. The idea of setting up such a company might seem daunting, but in fact charitable trust company registration can be inexpensive and quick to achieve. It is possible to arrange same-day charity trust company formation with no paper forms to fill in. This leaves you free to get on with the day to day running of the charity with minimal disruption. Your status would change from trustee to director (you would still be a trustee for the purposes of the Charities Act) and you would be protected from debts or other liabilities - otherwise your role would remain unchanged.
It is important, though, that you have a plan in place for what will happen after your charity has been registered as a company. Coddan not only offers same-day, paperless trust company formation but also offers affordable options for services that you may need once your charitable trust company has been registered. Those services might include helping you to streamline your organisation to make it more efficient, shopping around for more cost-effective services, or arranging extra staff to whom you can delegate more duties to run the trust more efficiently. They can also help you to arrange business banking accounts, or offer accounting and tax services to save you time and money.
To find out more about how Coddan can help you before, during and after your charitable trust company registration, call on +44 (0) 207.935.5171 or email us.