REGISTERED CHARITY NUMBEIL. 1064392
Report of the Trustee and
Audited Financial Statements for the Year Ended 30 June 2023
for
The Tax Advisers. Charitable Trust
Critchleys Audit LLP
ststutory Auditors
Beaver Hoijse
23-38 Hythe Bridgè Strèet
Oxtord
Oxfordshire
OXI 2EP

The Tax Advisers. Charitsble Trust
Contents of the Financial Statements
for the Year End￿ 30 June 2023
Page
Reference and Admlnlstratlve Detalls
Report of the Trustee
Report of the Independent Auditors
ststement of Flnanclal Actlvities
Balancè Sho•t
Notes to the Fln•nclal St•tem•nts
10 to 14

The Tax Advisers. Charitable Trust
Reference and Administrative Detai15
for the Year Ended 30 June 2023
REGISTERED CHARrrY 1064392
NUMBER
REGISTERED OFFICE
AND PIUNapAL
ADDRESS
30 Monck Street
London
SWIP 2AP
TRUSTEE
The Worshipful Company of Tax Advisers (incorporated by Royal Charter)
HONORARY ALMONER J Dewhurst c/0 The Clerk The Mill House New Mill Pewsey
Wiltshire SN9 SLD
HONORARY TREASURER D Scott clo Chartered Institute of Taxation 30 Monck Street London
SW1 P 2AP
AUDITORS
Critchleys Audit LLP
Statutory Auditors
Beaver House
23 -38 Hythe Bridge Street
Oxford
Oxfordshire
OX12EP
FINANaAL ADVISERS Quilter Cheviot Limited
90 Long Acre London
WC2E 9RA
BANKERS
HSBC BANK PLC
19 Grosvenor Place
London
SW1X 7HT
Pagè 1

The Tax Advisers. Charitsble Trust
Report of the Trustee
for the Year Ended 30 June 2023
The Trustee presents its twenty-sixth annual report and financial statements of the Charity for the
year ended 30 June 2023. The financial statements have been prepared in accordance with the
accounting policies set out in note I to the accounts and comply with the Charity's trust deed, the
Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 2019).
STRUCTURE. GOVERNANCE AND MANAGEMENT
Strurture. governance and management
The Charity is a registered charity whose goveming document is its Declaration of Trust dated 19th
May 1997 las amended). The Charity changed it5 name from The Guild of Tax Advisers Charity to The
Tax Advisers. Charitable Trust by deed dated 1 5th February 2006. The sole power to appoint new
additional Trustees is vested in the Master of the Worshipful Company of Tax Advisers.
In the management of the Charity the Trustee is represented by its Charities Committee whose
members are drawn from the Court and livery of the Company and are in their own right experienced
tax practitioners with knowledge of the charitable needs of The City of London and of organisations
providing tax advice to the needy. They are responsible for the system of internal financial control
and setting overall financial objectives. There is a clear structure of authority and control
responsibilitie5. They keep under review the risks which the Charity runs.
Risk management
The Charities Committee has on behalf of the Trustee considered the major risks to which the Charity
is exposed and has reviewed those risks and established systems and procedures to manage those
risks.
The Charity's powers of investment are set out in its Declaration of Trust which states that the Trustee
has power to invest Trust money in any propety or investments of whatever nature and wherever
situated.
Under its investment policy, the Charities Committee..
tske5 independent investment advice on longer term investments..
regularly reviews the value of the funds the Charity requires to be held in investment, short-term
deposits and cash, to ensure that they are adequate to meet the obligations identified in the Charity's
strategy document-
regularly reviews with its investment advisers the performance of longer-term investments- and
invests liquid assets in short-term low risk investments.
After a review of investment managers in 2022 Quilter Cheviot were reappointed.
Based upon independent advice the Charities Committee invested a proportion of funds in corporate
bonds during the year. reducing the Charity's exposure to equities.
Page 2

The Tax Adviser5. Charilable Trust
Report of the Trustee (continued)
for the Year Ended 30 June 2023
OBJECTIVES AND ACTIVrnES
Objectives and aims
The objects of the Charity are the advancement and promotion of such charitable objects or purpjses
as shall be exclusively charitable according to the law of England and Wales.
The Trustee has resolved that the Charity's income should generally be disbursed as follows..:
50% for the benefit of charities involved with taxation, including education and the provision of tax
advice to those who need it but are unable to afford it, and
50% for the benefit of other charities involved with the City or its neighbouring boroughs with an
emphasis on youth, education and the armed forces.
The members of the Charities Committee confirm on behalf of the Trustee that they have had due
regard to the guidance contained in the Charity Commission's general guidance on public benefit
when reviewing the Charity's aims and objectives and in planning future activities and settling grant-
making policy for the year.
The Charities Committee carried out those objectives by meeting four times during the year to make
grants in accordance with the objects of the Charity.
ACHIEVEMENT AND PERFORMANCE
Charitable actlvltles
During the year the Charity made grants in accordance with its objectives amounting to £24,088
12022.. £22,616)
Details of the beneficiaries are set out in note 5 to the accounts.
FINANCIAL REVIEW
Financial position
Resefves are held to provide financial stability and the means for the development of the Charity's
principal objectives.
Reserves at 30th June 2023 were £245,32812022'. £239,3791.
The Charity is supported by donations from the liverymen and freemen of the Company and others.
The Trustee is grateful for the voluntary help given in bookkeeping, accounting and administration.
Since no other party is bearing the financial cost of these donated resources their value has not been
included in intangible income in the statement of financial activities.
Page 3

The Tax Athiisers. Charitsble Trust
Report of the Trustee {continued}
for the Year Ended 30 June 2023
TRUSTEE'S RESPONSIBILtrY STATEMEI
The Trustee is responsible lor preparing the Report of the Trustee and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Att 2011. Charity (Accounts and
Reports) Regulations 21YJ8 and the provisions of the trust deed require the Trustee to prepare
financial statements for each financial year whKh give a true and fair view of the state of affairs of
the Charity and of the incoming resources and application of resources. including the income and
expenditure, of the Charity for that period. In preparing those financial statements. the Trustee is
required to
select suitable accounting Frf)licies and then apply them consistentl
observe the methods and principles in the Charity SORP..
make judgements and estimates that are reasonable and prudent
prepare the financial ststements on the going concem basis unless it IS Inappropriate to presur
that the Charity will continue in busine5S.
The Tnjstee is Tesp)nsible for keeping proper accounting rÉrords which disclose wth reasonable
accuracy at any time the financial position of the Charity and to enable the Trustee to ensure that
the financial statements compfy with the Charities Act 2011, the Charity (Accounts and Reports)
Regulations 2￿8 and the provisions of the trust deed. The Trustee is also responsible for
safeguarding the asset5 of the Charity and hence for taking reasonable steps for the p￿ventIOn and
detection of fraud and other irregularities.
Approved by order of the court of the Trustee on ti I'q
l 3 and signed on its behalf by.
Ms L Parkin
Chair of the Charities Committee of
The Worshipful Company of Tax Advisers
Page 4

Report of the Independent Auditors to the Trustee of
The Tax Advisers. Charitsble Trust
Opinion
We have audited the financial ststements of The Tax AdviseTS Charitable Trust (the 'Charity') for the
year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet and
Dotes to the financial statements. including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounling Standards, including Financial Reporting Standard 102- The Reporting Standard
applicable in the UK and Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the firsancial statements:
give a true and fair view of the state of the Charity's affairs as at 30 June 2023 and of its incoming
resources and application of resources. for the year then ended..
have been properly prepared in accordance with United Kingdorn Generally Accepted Accounting
Practice.. and
have been prepared in accordance with the reqU1reff￿nts of the Charities Act 2011.
B•5is for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII arKI
applicable law. Our responsibilities under those standards are fijrther described in the Auditors,
responsibilities for the audit of the financial ststemenls section of our report. We are independent
of the Charity in accordance with the ethical requirements thal are ￿leVant to our audit of the
financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the trustee's use of the going concern
basis of accounting in the preparotion of the financial ststements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to
events or conditions thaL individually OT collectively. may cast significant doubt on the charity's ability
to continue as a going concem for a period of at least twelve months from when the financial
statements are aUt￿riSed for issue.
Our responsibilities and the responsibilities of the Trustee with respect to going concern are
described in the relevant sections of this report.
Other inform•tion
The Trustee is responsible for other information. T1￿ other information comprises the
information included in the Annual Repor( other than the financial statements and our Report of the
Independent Auditors thereon.
Our opinion on the financial statements does not cover the other infomation and, except to the
extent Othe￿il5e explicit￿ stated in our report. we do not express any form of assurance conclusion
thereon.
In connection with our audit of the financial stalemenls, our responsibility is to read the other
information and. in doing so. consider whether the other information is materially inconsistent with
the financial statements orour knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether thi5 gives rise to a material misstatement in the financial statements
themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to
report in this regard.
Page 5

Report of the Independent Auditors to the Trustee of
The Tax Advisers, Charitable Trust
Matters on which we are required to report by exceptlon
We have nothing to report in respect of the following matters where the Charities (Accounts and
Reports) Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Report of the Trustee is inconsistent in any material respect with the
financial statements.. or
sufficient accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records and returns,. or
we have not received all the information and explanations we ¥equire for our audit.
Responslbllltles of the Trustee
As explained more fully in the Trustee's Responsibilities Statement, the Trustee is responsible for the
preparation of the financial statements which give a true and fair view, and for such internal control
as the Trustee determines 15 necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements. the trustee is responsible for assessing the Charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounling unless the Trustee either intends to liquidate the charity or to
cease operations. oi have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 145 of the Charities Act 2011 and report in
accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement
when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities. outlined above, to detect material mi55latements in
respect of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below:
the engagement partner ensured that the engagement team collectively had the
appropriate competence, capabilities and skills to identify or recognise non-compliance with
applicable laws and regulations.,
we identified the laws and regulations applicable to the Charity thfough discussions with
trustee and other management, and from our knowledge and experience of the client's
sector.,
we focused on specific laws and regulations which we considered may have a direct material
effect on the financial statements or the operation5 of the Chaiity..
we assessed the extent of compliance with the laws and regulations identified above through
making enquiries of management and inspecting legal correspondence,. and
identified laws and ￿gUlationS were communicated within the audit team regularly and the
team remained alert to instances of non-compliance throughout the audit.
Page 6

Report of the Independènt Auditors to the Trustee of
The Tax Advisers. Charitable Trust
We assessed the susceptibility of the Charity's financial statements to material misstatement. including
obtaining an understanding of how fraud might occur. by..
making enquiries of management as to where they considered there was susceptibility to
fraud, their knowledge of actual, suspected and alleged fraud,. and
considering the internal controls in place to mitigate risks of fraud and non-compliance with
laws and regulations.
To address the risk of fraud through management bias and override of controls. we:
performed analytical procedures to identify any unusual or unexpected relationships-,
tested journal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in determining the accounting
estimates were indicative of potential bias., and
investigated the rationale behind any Significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed
procedures which included, but were not limited to=
agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance-, and
enquiring of management as to actual and potential litigation and claims.-
There are inherent limitations in our audit procedures described above. The more removed that laws
and regulations are from financial transactions, the less likely it is that we would become aware of
non-compliance. Auditing standards also limit the audit procedures required to identify non-
compliance with laws and regulations to enquiry of the trustee and other management and the
inspection of regulatory and legal correspondence. if any.
Material misstatement5 that arise due to fraud can be harder to detect than those that arise from
error as they may involve deliberate concealment or collusion.
A further description of OUT responsibilities for the audit of the financial statements is l¢xated on
the Financial Reporting Council's website at.. www.frc.or
auditorsres
onsibilities.
This description forms part of our auditorfs report.
Use of our report
This report is made solelyto the Charity's Tnjstee. as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might
state to the charity's trustee those matters we are required to state to them in an auditors, report
and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the Charity and the Charity's Trustee as a body, for our audit
work, for this report, or for the opinions we have formed.
Critchleys Audit LLP
Statutory Auditors
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
Beaver House
23-38 Hythe Bridge Street
Oxford
Oxfordshire
OX1 2EP
Date..
21 November 2023
Page 7

The Tax Advisers. Charitsble Trust
Statement of Financial Artivitie5
for the Year Ended 30 June 2023
30.6.23
Tolal
funds
30.6.22
Total
funds
Notes
INCOME AND ENDOWMENfs FROM
Donations and legacies
25.652
25,989
Merchandise
3.324
4,590
Investment incorne
9.109
7.064
Total
EXPENDrruRE ON
Ralsing funds
5.098
5.560
Charltable artlvltles
Grants made
24,088
22,616
Oth•r
2.077
2,331
Totsl
INCOME LESS EXPENDrruRE
6.822
7,136
Net gains/llossesl on investments
{874)
32,999)
NET INCOMV(EXPENDrruRE)
5.948
125,863)
RECONCIUATION OF FUNDS
Total funds brought forward
239.379
265,244
TOTAL FUNDS CARRIED FORWARD
245.328
239.379
The funds ar¢ unrestricted
The notes form part of these financial statements
Page 8

The Tax Advlsets. Charltsble Trust
Balance Sheet
30 June 2023
30.6.23
30.6.22
Unrestrirted Total
fund
funds
Notes
FIXED ASSETS
Investments
CURRENT ASSETS
Stocks
Debtor5
Cash at bank
3,165
6,324
20,608
7.123
18.936
26,059
30.097
CREDrroRS
Amounts falling due within one year
10
151,640}
152,6061
NET CURRENT UABILMES
125,581)
22,5091
TOTAL ASSEfs LESS CURRENT
LIABILMES
245.328
239.379
NET ASSETS
245.328
239.379
FUNDS
Unrestricted funds
245.328
239,379
TOTAL FUNDS
44
The financial statements were approved by the Court of the Trustee and authorised for issue
__ l3 and were signed on its behalf by..
M5 L Parkin
Chairman of the Charities Committee of
The Worshipf¢Jl Company of Tax Advisers
D Scott
Treasurer
The notes form part of these financial statements
Pa9e 9

The Tax Advisers. Charitable Trust
Notes lo the Financial Statements
for the Year Ended 30 June 2023
ACCOUNTING POUCIES
Basis of preparing the financial statements
The financial statements of the Charity, which is a public benefit entity under FRS 102. have
been prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 (effective 1 January 20191., Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011.
The financial statements have been prepared under the historical cost convention, with the
exception of investments which are included at market value, as modified by the revaluation
of certain assets. Amounts are rounded to ihe nearest £.
Income
Grants, legacies and donations are included in the Statement of Financial Activities when the
Charity is virtually certain they will be received. Incoming resources from tax reclaims are included
in the Statement of Financial Activities at the same time as the gifts to which they relate.
Investment Income is included in the accounts when receivable.
Investment gains and losses include any gain or loss on the sale of investments and any gain or
loss resulting from revaluing investments to market value at the end of the year.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits
will be required in settlement and the amount of the obligation can be measvred reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all cost related to the category. Where costs cannot be directly attributed to
particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Grants offered subject to conditions which have not been met at the year end date are noted
s a commitment but not accrued as expenditure.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow-moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Assets
Investments quoted on a fecognised strxk exchange are valued at market value at the year end.
INVESTMENT INCOME
30.6.23
30.6.22
Dividends and other fund income
9.109
7,064
Pagelo
continued...

The Tax Advisers. Charitsble Trust
Notes to the Financial Statements - continued
for the Year Ended 30 June 2023
RAISING FUNDS
30.6.23
30.6.22
Investment management fees
Fund raising costs
Cost of items for resale
1.690
242
1,866
5.098
5,560
TRUSTEE'S REMUNERATION AND BENEFrrs
Members of the Charities Committee and other volunteers receive no remuneration for
their services.
Trnstee's expenses
No claims have been made for reimbursement of travel expenses.
CHARrrABLE ACTMllES GRANTS MADE
30.6.23
30.6.22
ADIT Prize
Bridge the Gap ITaxAid and Tax Volunteers)
City Harvest Ltd - Livery Food Initiative
City for Kids Foundation
City of London Police Cadets
City of London Poppy Appeal
Cler9y Support Trust (formerly Corporation of Sons of Clergy)
Guildhall School Trust- Welfare and Wellbeing Appeal
Hackney Quest
Hawk Consetvancy Trust
Help Musicians UK
Livery Schools Link Ltd Opportunity Fund
London Air Arnbulance
London Air Ambulance- Up Against Time Appeal
Lord Mayor's Appeal
Mansion House Scholarship Scheme
NE Sector ACF
Sheriffs and Recorders Fund
Spitalfield5 Crypt Trust
St Bartholomew the Great
St John's Ambulance Cadets-westminster
Tax Volunteers
TaxAid
Treloar Trust
Tnjstees of United Guilds Se￿ice
Total
200
4.000
1.500
4,000
500
500
190
250
500
200
500
1.400
1.400
35
200
1,000
500
150
1,000
1.500
1.388
500
1.500
500
1.386
500
1.500
500
480
500
500
4,000
4,000
500
175
50
500
4.000
4.000
500
200
Pagell
continued...

The Tax Advisers. Charltsble Trust
Notes to the Financlal Statements - continued
for the Year End￿ 30 June 2023
OTHER
30.6.23
30.6.22
Support costs
2.077
Support costs included in the above are as follows..
Auditors, remuneration
Bank fees
Insurance
Postage freight & courier
Printing and stationery
Sundry expenses
1.840
93
125
1,697
37
202
140
140
19
FIXED ASSET INVESTMENTS
30.6.23
30.6.22
Fixed interest securities
Equity investments
33.073
237 836
36,254
225 634
Additional information as follows=
Listed
investments
MARKET VALUE
At 1 July 2022
Additions
Disposals
Revaluations / other
261.888
13.586
(3.691)
{874)
At 30 June 2023
270.909
NET B¢)OK VALUE
At 30 June 2023
270.909
At 30 June 2022
261.888
There were no investment assets outside the UK.
Page12
continued...

The Tax Advisers. Charitable Trust
Notes to the Financial Ststements - contlnued
for the Year Ended 30 June 2023
STOCKS
30.6.23
30.6.22
Stocks
DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
30.6.23
30.6.22
Tax recoverable
Other debtors - The Tax Advisers, Benevolent Fund
Prepayments and accrued income
6.165
5,469
958
855
7,123
6,324
10. CREDrroRS: AMOUNTS FALUNG DUE wmiiN ONE YEAR
30.6.23
30.6.22
Other loans (see note 111
Trade creditors
Grants payable
Accruals and deferred income
47.500
50,000
281
200
2.125
200
3.940
51,640
52,606
11. LOANS
An analysis of the maturity of loans is given below..
30.6.23
30.6.22
Amounts falling due within one year on demand..
Other loans
47.500
50,000
The loan from the Worshipful Company of Tax Advisers, which is the charity trustee, is
interest free and repayable on demand.
12. CONNEcfED CHARrrY
The Tax Advisers, Benevolent Fund is a connected charity in that it has the same Trustee and
Charities Committee but it is not subordinate to the Tax AdviseT5' Charitable Trust and
therefore consolidated financial statements have not been prepared.
Page 13

The Tax Advlsers. Charitable Trust
Notes to the Financial Ststements - continued
for the Year Ended 30 June 2023
13. RELATED PARTY DISCLOSURES
The related party transactions during the year included £3,120 12022: £nill from the sale of
merchandise to the Worshipful Company of Tax Advisers with £2.500 of this amount set
against the loan disclosed in note 11.
Page 14