Legal requirements to start-up a charitable trust company: the significant tax benefits, as well as other freedoms from financial control, are key reasons for many people to start up a charitable trust company as a vehicle for the distribution and disposal of their income or assets. Like any other company limited by guarantee starts up, constituting a charitable trust correctly requires a range of documentation to be prepared and submitted to the appropriate bodies. If you're considering going down this route, take a look at what's needed to start up a charitable trust company.
Charities commission: unless a charitable trust's income is less than £5,000 per annum, it needs to be registered with the charities commission in order to be eligible for the tax-free benefits charities enjoy. In order to apply for charitable status, you will need to provide bank account details, contact details, a governing document, a certificate of incorporation and evidence that income to the trust is more than £5,000 per annum. On the basis of this information, the charities commission will then decide whether to grant charitable trust status. Incorrect or missing information can delay the decision making process significantly, so it makes sense to ensure you get everything right first time.
Getting assistance: when you need to start up a charitable trust company, obtaining the right assistance to get the job done properly can be a challenge. At Coddan Formations Agency, we have particular experience and skills in starting up charitable trusts for a wide variety of different endeavours. If you prefer your charitable endeavours to be a private matter, or are having difficulty framing your intentions into a suitably worded governing document, we can produce all the pieces of paperwork you need to ensure your company is correctly constituted and has everything in place to swiftly become a thriving charitable trust.