Company registrdtion number.. 04894491
Charitable company registration number= 1102276 (England & Wales) and SCO 45819 (Scotland)
Tax Volunteers
known as
Tax Help For Older People
IA company limited by guardn*e)
Annual Report and Financial Stat¢ments
for the Y¢ar Ended 31 March 2024

Tax Volunteers
Contents
R¢ferenc¢ and Administrdtive Details
Chails Report
Trustees, Report
3108
Sialement of Trustees, Responsibilities
Independent Auditorfs Report
10 to 13
Statement of Financial Activities
14
Balance Sheei
15
Siatement of Cash Flows
16
Notes to the Financial Statements
17to30

Tax Volunteers
Reference and Administrydtive Detai15
Trustees
P A Hamilton
J G Whitehead
Csmuir
A M Molleti (Marian Drew)
B Chapman (resigned 20 April 2023)
G J Jones
A M Cullimore-T(xld
J C Wakeman (apw)inted 17 May 2023)
Secret9ry
J ￿, M Crump
Chlef Exeeutlve Offleer
Regl$tered Offiee
Unit 10
Pineapple BUS1r￿SS Park
Salw'ay Ash
Bridp)rt
Dor5ei
DT6 5DB
Ch*rit*ble company Registradon
Number
1102276 in England & Wales and SCO 45819 Scotland
Company Reglstr*tlon Number
04894491
Audltor
Thompson Jenner LLP
Stsiuiory Audiiors
I Colldon Crescent
Exe*r
Devon
EX? 41
Page I

Tax Volunteers
Chair's Report for the Year Ended 31 March 2024
Tax Help for Older People seeks tu alleviate the hardship caused to vulnerable individuals by ¢ompli¢ations and
misunderstandings in their tsx affairs. The Trustees. Report sets oui the scale of the Charity's response and the
ways in which it tries to meei thosc nccds. but Ihe preSLribed fomi does noi do justice to the individual impact of
what is done and the commitment put into it. l enLourage you lo read the compelling siories of meeiing
individual need.
During the year there no let up in demand and no sign that the tax system itself was becoming easier for the
disadvantaged to engage with. So Tax Help for Older People remains as necessary as when it was founded over
20 years ago.
Beneficiaries. needs are met by a team of paid staff and hundreds of volunteers. led by Valerie Boggs. Her calm
leadership through unexpected events. such as the closure of HMRC'S self-assessment helpline for a period in
2023, is guided by her personal dedication Lo ihe charity's cause. with which she enthuses her tfam. My thanks
go io all of them.
We are keen to build partherships with other voluntary organisations and commerci81 firn15. as the success of
these relationships enable5 Tax Help for Older People io reach more poiential beneficiaries. A crncial
continuing alliance with TaxAid helps us to be an efficient organisation.
None of this work Can happen without funding in cash from a rdnge of con¢erns and individuals and support in
kind. This report provides assurance ihat their support has been used well. Our major funder is FtMRC and
during 2023124 they ¢ommitt¢d to a further ihre¢ years, suppon from April 2024. This gives the charity a solid
base lo develop in the fuiure. I thank everyone and every organiiation which has given lo T&x Help for Older
People, whether £10 or £IOO,000, whether by organisin8 a walk or by recognizing thal thal the purpose and
values of this charity match their organisaiion's.
Ultimate responsibility for the charity rests with the trustee board. There has been a period of stability since
Brian Chapman lefi in April 2023 aiid joined as Director of Finance and Infrdstructure in July ?023 and Jo
Wakeman. with huge experience of HMRC. joined in May 2023. The apFK)intments of Gary Jones and Angela
Cullimore-Todd the preyious year. combined with Jo Wakeman's. have given the trustee board valuable new
and probing perspectives. The major change in the year for th¢ trustee board came with Penny Hamilton's
retir¢meni as Chair in November 2024. Her four years as Chair wer¢ defined by the charity's response io
Covid-19 and a strengthened relationship with TaxAid. The Trustees are hugely grateful for what she aLhieved
for Tax Hclp l am grateful ihut she reTnains on the board. bringing a refreshing combination of enthusiasm
and rigour.
The day to day delivery to our beneficiaries is pardmount. bui we also have to make sure ihat we are reaching
the widest range of the vulnerdble. and not just those we ha￿¢ reached before. Making the space to look forward,
while delivering today, can be challenging. We have staned work on developing a benefi¢iary strategy for the
nexi few years and we are seeking lo ensure thai our governanLe and delivery siruciures will be appropriate to
tomorrow's needs. not jus1 ioday's. In all of ihis, our prime concem is the needs of beneficiarie5.
The strdtegic report was approved by the trustees of the charitsble company on Ik. ....
behalf by:
signed on it5
vltsuthtr
A M Molleii {Marian Drew)
Trustee
Page 2

Tax Volunteers
Trustees, Report
The ttusiees, who are directors for the purpose of c(Mnpany law, present the Annual Report together with the
Finan¢ial Statements and Auditor'5 Rcport of the charitable company for the year endcd 31 March 2024. The
references and administrative information set out on page I forms t￿rt of this report. The charity is a company
limited by guaranree and a registered charity, its governing d￿UMentS are its Memorandum and Articles of
Association.
Public benefit and how our activities deliver it
We have a duty to report on our organisAtion's public benefit under Section 4 of the Charlties Act 2011.
We gre confident that we meet those public benefit requirement5 having taken into Consideration the
Charity Commission guidanee.
Our vision is 'To provide tax help to all who need it..
We support peopl¢ over the age of aEK)Ut 60, who are in financial poverty, including that creaied by debt and
thosc experiencing other hardships or disadvantages. Many have mental or physical health problems, are frail,
disabled or recenily b¢reaved.
We provide support for our beneficiaries by the provision of thx inforTnati(m and PId￿lee as well as direct
intervention by submitting fornis, claims, elections and appeals as appropriate lo HMRC.
When possible, we enable our E£n¢ficiaries to help themselves and give them the tLKTrls and capability to have
ownership of and manage their tax affairs in the fvture, tailoring our sernice to individual thx and personal
circumstances.
When our communtry highlights issues we cann(M resolve, such as fraud or external systemic issues. we work
with HMRC to address these concerns.
In addition we work closely with partners in the voluntary and community sector through an outreach programme
to strengthen referrals to our service and educate partners aknul tax to reach more people and ensure that people
with tax problems who cannot otherwise access suppori have a route io a fair outcome.
We believe therefore thai we meei the public ixnefit requirements through our trtneficiary led tailored service
which m&ximise5 the reach of our sernice.
Ob'ective
activitie5 and im
Our objective as a charity is to help older people in poverty understand their t2x better and to empower
them to be able to manage their tax themselve5. We are led by tho nocds of our benefici*rie5.
We reduce poverty by supporting people to pay the right imoun¢ of tax.
We do this by..
Proiiding stepby-step support to help people to resolve their lax problem. In the year to 31 March
2024. this hclp was providcd to 12.117 pcoplc, Icading to improvcd financial circurnstanccs and LTabling
our benefi¢iaries io have a ￿tter und¢rstandin8 of their w)sition and how to mana¥¢ th¢ir thx affairs
in thc future.
Page 3

Iniestlg4ilng lax debt and challenginR It when erroneous or Mhere ihere are legl¢lm*te grounds 10
do 50. During tli¥ yiar, our in￿¢st1￿￿atIOnS and appcals rLsuItLxl in £120,657 of tax dLbi bL"inbJ wyiiien off.
improving financial wellkin¥ and reduLing ￿ preveniing poverty.
Improi'in2 ihe current finAnci41 position of di$4dvAnla2e people through taxes *rittL'n off Ind
rcfund5 gen¢rated. Adi'icc and casl ￿'ork ¥¥ncral¢d tax rlfunds o1.£195,167 in die yLar 10 31 March
2024.
Our expercise in providing emphatic 8UPPOrt iogeiher wilh our knowledge of tax administration enables us to
rcsolvc lax dcbt issues, likc Ihc problcin that BLrnie callcd us with.
Bernie, an 80 year-old pensioner. came to us wirh a large lax debt. He had previously been self employed and
had usLd an accountant to filL his tax returns. I IowLver. his incomc and circumstance5 changed in 2015 and his
only income wa5 Irum his SiaiL Pcnsion and a small private pensiun.
Bernie did nor know thar since ?015 his wife, rather than an acLountsnt, had completed his tax r¥turns. Nor was
hc aware of the lax dcbi until he found dLbr colleLiion letters relaiing to a debi fr(Mn 2021-22. Flis wife had tri¢d
to k¢￿ this from hiin and had bccn trying io pay oft thc dL'bi.
Tax I Iclp spokL lo I IM RC and obrained a copy of his 2021122 and 2022123 tax returns. We were quickly able to
ddermine thai thL issue was due iu il)c Stmte Pth15iim being declared twic¢ on th¥ rclurn. We requcsicd that
I IMRC make an amendmLI)i as thiq was an obvious error, whiLh they did.
As a rcsuli of our work, dL'bi collection ceased and Bernie received a refund of th¢ amount he had incorrccily
paid, whiLh toiullLd £3,535.
We ensure ihNI no one 15 dlsadi'antAged by the system Just bee*use they cAnnot acce55 the help they
need.
W¢ do this by
Provldlng support that recognlses SndlvSdual need5 and clrcumstances and never leivcs a ¢as¢
unresolved.
Each caller was supwirted with advice from our trained siaff and provided with accessible r¢sources
giving our callers a betier understanding oftheir tsx affair5 and how to manage thLin. Whcre needed. a
volunieer tax adviser provided furth¢r supp(Kt lo re501ve their problem directly with IIMRC.
Reachlng out ¢0 dls#dv*nlAged communltles through p*rtner5hlp wlth other volunlary
communlty sector orgAnlsatlon
In ihe past year. we Ftave been working to improve access to our services by delivering outrcach to
voluntary and community seLlor {VCSI kMrmer5, eduL'ating ihem aiK)Ut our s¢Thi¢c and wthy, how and
when 10 refer clienis io us.
Using our reputation and the leArnlng gAlned to Influence the tax ecosystem for the bcneflt of those
ile support.
We adv(Katc for our iKncticiary group at relcvant HMRC user groups. working with parniLTS in the tax
industry to highlight issue the impact oftax policy and thx administrati￿.
W¢ also f8c¢d a si8nificanl challenge in 2023 when ihe unexpLYted closure of IIMRC'S self assessment
helpline caused a significani and unforc5ceablc pcak in dLThand in June ?0?3 for 3 months. The
dcmand placcd significant strain on our services at very short notice bui was managed through the
outstanding LommiimLni of staff and volunieer5.
Page 4

We contribute to the better long-term ￿0￿0M1¢ security by empowering people to m*ngge their tax *ffairs
Aecompanying our benefici8ries as thev take charge of their tax 8ff%irs And build confidence.
Our helpline provides immediate Supp￿ and advice from trained, empathetic staff, enablin8 many
beneficiaries to understand and manage their affairs. When further suppth is needed, 289 volunteer tax
experts across the UK are able to provide case work thai is individual and accessible.
Helping people to understand their taxe5 and where to find accessibl¢ and reliable resources and
information
Tax Help regards the education of its beneficiaries al)out their tax affair5 as critical to the support we
provide. W)en we provide help to a person in need of help with their tai we not only help them to
resolv¢ that particular problem bui also help them undersrand why the problem has arisen and how to
manage their rax affairs in thc futurc. So, each person who contacts us for help. is supported ro better
undcrstand their taxes so they can manage their affairs in fvrure or know where to get the help thcy
need. One of the key resources thai we refcr our }￿efiCiar1es to is the LITRG website.
We help people like Rob, who. follo￿7ng diagnosis of tern)inal cancer. cashed in hts pensi(vJs to clear
his debis. Bui errors made ￿ his tsx return led to a debt of £54,000, which, through our ad￿lce and
support was cancelled.
Respond to issues r4ised by our communlty both through the &d￿te we deliver and *dvoc4cy ￿1th
H￿]Rc
Tax Help for Older Peoplc has & tK)silive and Cooperative relationship HMRC, built over many
years for the knefit of thosc we suppon. We share the trends that we see on the helpline and hclp to
provide HMRC with an understanding of the barriers people in poverty can experiencc when trying to
overcome tax problems.
We attend workshops and consultation discussions, participate in forums and o(her meetings with
HMRC, and we are able ro ktier adV￿ate for our Etheficiaries E¢¢aus¢ of this close mutually
beneficial relationship. Our relationship with HMRC ensures they will aler( us when they plan to
communicate on certain issues. where these issues will be likely to lead to more queries (M our
helpline. We can ihen k ready Thith help. guidance. and reassurdnce for those who are most in need.
We ￿'ant to ensure thai the tax issues that arc specific to people in poverry are broughi lo the attention
of HMRC. lo drive the change and action that can help resol￿¢ these issues in the long-terni.
Our working relationship with HMRC not only equips us an understanding of the ditTiculties that older and
vulnerable people face when navigaiing the lax system, but it helps u5 resolve individual tssueq on a case by
case basis, helping people like Jack.
Jack conthcted Tax Flelp as he had received a simple assessment demand of £2,785 for the tax year 2022-23 and
had tyen advised by FIMRC'S debt management departtnent thai there would be a fi￿ther demand of £2.(K)O for
a fi]rth¢r two tax years. He had not slept Since receiving the initial demand and was thinking of selling his car io
help pay the debi.
Jack's income was just £16.534 in 202?_23 and our hclplinc adviser recognised that the tax demand for that ycar
appeared io k excessivc. Shc transfLrred Jack direcily to FIMRC'S Extra Suppurt Team to ask them to check the
simple assessmeni calculation and issuc Jack wilh a copy so ihar we could support him furthcr if needed.
Jack called Tax Help back later thai day to say that FIMRC had not allowed any Personal Allowance on thc
original calculation. His lax debt had been recalculaied and was now just £1,240 across all threL" tax ￿rs.
Page 5

As a rcsult of Tax Help's support and our ability to ￿'ork cooperatively and directly with HMRC'S Extrd
Support Team. Jack's tax debt was rcduccd by L3.545 and he is now able to mana8e the remaining debi through
HMRC'S debt management department. Jack was delighted by the outcome, saying io ow helpline adviser,
'You do not know how much hoppier vou have mode me, I have been 50 Hvrried. A million rhankyous
We helped over 12.0(KJ people like Jack in 2023:'24 but we want 10 help m(Ye and to Ix led by the needs of all
our beneficiaries. To do this we arc und¢Jtaking a beneficiary assessment, using research lo inform our
understanding of the current and fvrure needs of our beneficiaries. Wc will use this to inform our future strategy
working (owards our vision ro providc tax help to all who need it.
Financial rebiew
Summary ofposition
The statement of F5naneiAI ACti￿lIeS for the vear on page 14 shows a surplus of Income ower expenditure
in the year of £14.893 (2022123 - deficit £14,257). Income increased by around £48,000 which wa5 offset
part by an increase in expenditure of ground £19,000 (both figures exelude glfts In klnd).
Income
HMRC funding comprised the final year of ils three-year grant peri(Ml.
We are pleased to report that we have been successful in being awarded a grant from FIMRC for a further three
years, nmning to 31 March 2027. This amounts to £320,¢￿ pa.
Tax Volw]teers re¢eived funding from the CIOT with the specific purpose of advartcing tax education.
Th¢ support from our ¢orporate partrters continued. enabling us io help to demystify the taxation of pensions. We
ould also enswe that pensioners claimed all their allowances, and so helping those on the lowest incomes lo
maximise their pensions.
In the light of the cosl-of-living crisis, fimding applications tix)k longer than usual to k considered given the
pressure on In￿t$ and foundaiions.
The total income from each source 15 shoiw] E¢low.
Income Sources
15%
HMRC
Professional ass¢xiations
Trusts & Foundations
21%
Individual & othei donations
Corporate5
Donated services
16%
E.¥pendilure
Page 6

Expenditure in the year ended 31 March 2024 (excluding donated services and faciltties) amounted to £630,330,
an increase of 3./0 over the previous year. This was primarily due to increased siaff costs which reflecf the need
to pay higher salaries in the light of inflation.
As mentioned tn the prior years, reviews, we reduced the size of our office from two floors to one with effect
from August 2022. Thc cost saNings from this were ￿1]Y realised in 2023124.
Reserves
The free rcserves at 31 March 2024 are £352.44? w'hich is more than five months. ¢xpert¢d expenditure for the
current year. This Posltion is in line ￿Trth our rcscrves policy which is to..
Provide stability and the means for th¢ development of the chariry's principal objects,. and
In thc long term, achieve a sufficient level to provid¢ a cushion equivalent to six months, operaring
expenditure.
Risk
The risks are maniged by the periodic monitoring of the risk register whi¢h idenlifies the key risks and
plans ¢helr mltlgatlon.
The primary risk facing the Ch￿lty is financial instability created by the uncertainty around medium- lo long-temi
nding. This arises from receivtng substantial fundin8 frorn one source, HMRC, bul this is miriga(ed by
diversifying income streams.
Our financial nwiagement procedures include the preparation of an annual budget and forecast with quarterly
reporting againsi budgei provided to the Board
Th¢ twste¢s have given consideration io the major risks to which the charity is exposed t4nd satisfied themselv¢$
that systems or procedures are esiablished in order to manage those risks.
Structure
overnance And man
ement
The ¢harity is mAngged by the Board of Trustees which meets quarterly. The Board delegates day to dgy
management to the Chief Exeeuti>'e and the Senlor ￿lI￿agement Team.
The directors of the charitable company are its rrustees for the purposes of charity law. The names of the trustees
who were in office during the year are lisied on page l. All members of the Trustee Board gave their time
voluntarily and received no knefits frorn the charity.
The iotal nUM￿r of truste¢s rnust not t¢ less than three but is not subject to any maximum. New trustees are
identified with the necessary specialist expertise and appropriat¢ charirable, commercial, tax and legal experienc¢
to enrich the standing Board and are given induciion and training by rhe currLmt post holders. Trustees retire by
rotation in a¢¢ordance wirh the provisions of rhe Memorandum and Articles of association but someone wllo
retires can be ¢ligible for reappoinimeni as a ttusitt. wilh a maximum of 9 ycars, service permitted.
DaY-l￿daY managemeni is delegated io our Chief Executive. Valerie Boggs. who is supported by the Senior
Managcment Team whose responsibility is to work to the strategic plan wthich coniains business, financial and
service objectives.
Tax Volunieffs continues io work closely with T￿AId. The two ¢harities share a Senior Management Team and
work together under a collaEN)ration agreemeni which not only achieves cost-efficiencies through sharing back-
oITice serviLes a150 facilitates syllcrgy between the two charities.
Remuneraiion for key managemeni is sct with reference to market rates for similar roles and responsibiliries in
the charitable sector, taking accouni of geographical differences.
Page 7

Disc105ure of Informatlon to Auditor
Each Irusree has taken the required steps to make themselves aware of any relevant audit Informati￿ and to
esiablish that the charity's auditor is aware of ihai Infom￿tiOn. Thc trust¢¢s confirn) that there is no relevant
infomiation that they know of and of which they know the aLkditor is unaware.
The annual report was approved by the trustees of the chariry ￿ .
and signed on its E*half by:
A M Molleit (Marian Drew)
Trusree
Page 8

Tax Volunteers
Statement of Trustees, Responsibilities
The irns¢ee% (who are al*0 the directors of Tax Volunieers for Ihe purposes of company lawl are responsible for
preparing the Iruslees, report and the financial siaiemenis in accordance with applicable law and United
Kingdom AccL)unting Stttndard4 IUniiLd Kingdom GL'nL'rally Acceptcd Aecounting Practiccl. including FRS
102 "The Financial Reporting Sthndard applicable in the UK And Republic of Ireland"
Company law requir¢5 the trustees to prepare financial staiemenls for each financial year. Under company law
the trustees musl not approv¢ ihe financial staiemenls unless ihey are sa¢i%fied thai Ihey give a Irue and fair view
of the stal¢ of affairs of th¢ charitable company and of ihe incoming resources and applicaiion of re50urce5,
including ii.q income and expendiiure, of the chaniable company for that period. In preparing these financial
slaiements, the Irusiees are required to..
select sui¢able accouniing policies and apply Ihem consisienily;
observe the methods and principles in the Charities SORP:
make judgcments and estimates that are reasonable and prud¢nt.'
stale whether applicable accounting slandard%. compri%ing FRS 102 have been followed, subject to any
maierial departures disLIu5ed and LxplainLd in the financial slatements; and
prepare Ihe financial slalemenls on the going conLern basis unless il is inappropriate to presume that th¢
charitable company will continue in business.
Th¢ truste¢5 4r¢ responsible for ke¢ping proplr a¢couniin¥ reLords ihai can disclose wi(h reasonable accuracy al
any lime the finanlial position of th¢ charitable company and enablL¥ thLm to LnsurL' that ihe finuncial slatLmenl
comply with ihe Companies Aci 2006. ThLy arL' also fLsponsible for safcyuarding thc a%sets of (hL charitabli.
company and hence for taking reasonable steps for the prevention and deteclion of fraud and other )￿esularl1Ie5.
The Iruslees are respot)sible for the mainienance and inie8riiy of the corpornte &nd finuncial inforniation
includLd on Ihe Lharilable company's web4ite. Legislation governing the preparation and dissemination of
rinanLial yialemcnls may ditTer from ILgisluiion in oihL'r jurisdictions.
Approved by the tru51¢es of the charitabl¢ company on .1).
and signed on its behalf by..
A M Moll¢ll (Marian Drew)
TNs¢C
Page 9

Tax Volunteers
Independent Auditor's Report to the Members and Trustees of Tax Volunteers
Opinion
WL have audited the financial statements of Tax Volunteers {the 'charitable company,) for the year ended 31
March 2024. which comprise the Statement of Financial A¢iiviti¢s, Balance Shee¢. Statement of Cash Flows,
and Noles to the Financial Stalements. including a summary of significani accounting policies. The financial
reporting framework thai has been applied in their preparation is United Kingdom Accounting Standards.
comprising Charities SORP - FRS 102 The Financial Reporting S¢andard applicablc in thc UK and Republic of
Ireland, and applicabl¢ law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a tnEe and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its results
for the year then ended..
hav¢ been properly prepared in accordance with United Kingdom Generally Accepted Accounting PrdCtice-
have been prepared in accordance with Ihe requirements of the Companies Act 2006, the Charities and
Trustee Investment {Scoiland) Aci 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations
2006.
Bas1$ for oplnlon
We conduLied our audit in accordance with International Siandards on ALEditing {UK) (ISAS (UK)) and
appli¢abl¢ law. Our responsibiliii¢s under ihose siandards are further described in the auditor responsibiliti¢s for
the audit of the financial 5tatement5 section of our report. We are independent of the charitable company in
accordance with the ethical requirements that are relevant to our audit of the financial siaiements in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with
thes¢ requirements. We believe that the audit evidence we have obtained is sutTicient and appropriate lo provide
a basis for our opinion.
Conclusion5 relating to going concern
In auditing the financial statements, w'c have concluded that the trustees LLSe of the going concern basis of
accounting in ihe preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material unc¢rtainties relating to evenis or
condition5 ihat, individually or collectively, may cast significant doubl on ihe charitable company'5 ability to
continue as a going concern for a period of at least twelve months from when the original financial statements
were auihorised for issue.
Our responsibiliiies and the responsibilities of the trustees with respect to going concern are described in ihe
relevant sections of this report.
Other information
The irustees are responsible for ihe oiher inforniation. The other inforn]ation comprises th¢ inforniation included
in the annual report. other than the financial statements and our auditor's r¢tKlrt thereon. Our opinion on ihe
financial siatcments does not cover the oiher information and, except to Lh¢ ¢xlent otherwise expliciily stated in
our report. we do not express any form of assurdnce conclusion thereon.
Page 10

Tax Volunteers
Independent Auditor's Report to the Member5 and Trustees of Tax Volunteers
In conncction with our audil of ihe findncial biaiemeni%, our responsibility is io read the oihLr infoma¢ion and,
in doing so. eonsidcr whether the oihcr inforn)a¢ion is maierially inconsislenl with the financial sialementq or
our knowledge obtained in thL audit or othenvisc appLars to bL' materially mi5staied. Ifwe idL'ntify such material
inconsistencies or apparent material tni5statements, we are required io deierniine wheiher ihere is a maierial
missiatement in the financial siat¢ments or a material misstatement of the other information. If, based on the
work w¢ have perfornied, we concludL that there is d ma¢L'rial missiaiLment of ihis other infom)aiion, we are
required to report that fact.
We have nothing lo report in this regard.
Oplnlon on other matter pr¢s¢rlbed by the CompAnles Act 2006
In our opinion, based on ihL work uiidL'riakL'n in the Lour%c of thL uudil..
the infomiaiion given in ihe Chair'4 Reporn and TNslees' Repon for the financial year for which the financial
staiemL'nts are prL'pufLd is consistent wilh Ihe financial sia¢emenis; and
the Chaifs Report and Trusiees, Report have been prepared in accordance wilh applicable legal
requirements.
Matters on whlch we Hre requlred to report by exceptlon
In thL light uf our knuwlLdgL and undLrslai)dln￿ of thL Lharitable company and 11$ environment obtained in the
cour%L' of ihe audil. we havL not idcn¢ifiLd maiLrial mis%(IllL'mLn(s in ihL Chairfs Repuri und ihL Tru%icL%%' RL w)rt.
We have noihing lo report in respeLI of Ihe following mallers where the Companies Act 2006 and the Charilies
Accounts (Scoilandl Regulaiions 2006 las amended) requires us lo report lo you if. in our opinion..
ad¢quaie and proper accounling records have nol been kept. or relurn5 adequate for our audit have not been
received from branches noi visited by us.. or
Ihe financial stalements are nol in agreement with th¢ accounting ￿ordS and ￿turnS- or
certain disclosures of trustee5' remuneratiort Specified by law are noi made: or
we have not receivL'd all the infomiation and explanations we require for our audit.
Responslbllltles of truytees
A¥ ¢xplJin¢d mor¢. tully in Ihe Siatemenl of Trusl¢c8' Responsibilities {s¢t out on page 9). th¢ trustees are
respon%iblL for Ihe prLparation vf IhL finaniial slatem¢nl% and for being satisfied that thL'y give a tru¢ and fair
view, and for such internal conirol 0$ the Iru51e¢$ d¢l¢rmine is necessary lo enabl¢ the pr¢p8ralion of financial
staiemenis thai are free from maierial mi5sthiement, wheiher due 10 fraud or error.
In prL'paring the financial slaiemenls, the irus(ecs are re%ponsible for assessing the charitable company's ability
lo continue 88 a going Concern. di￿[051n8. as appli¥able. matters related to going conLern and using the going
concern basis of aLcouniing unless the trustees eiihcr iniend io liquidate Ihe charitable company or io cease
operation5, or have no realistic alternative but io do so.
Pag¢ 11

Tax Volunteers
Independent Auditor's Report to the Members and Trustees of Tax Volunteers
Auditor responsibilities for the Audit of the financlal stAtement5
We have bccn appuinted as audiior under seciion 4411 l{c) ot the Charities and Trustee Investment (Scotland)
Act 2005 and under the Companie5 Aci 2006 and report in a¢cordanc¢ with the Acts and relevant regulations
made or having effect thereunder. Our objectives are io obtain reasonable assurance about whether the financial
siaiements as a whole are free from material mi55tatcment, whether due to fraud or error, and io issue an
auditor's report that includes our opinion. ReasoTJablc assurnnce is a high level of assurdnce. but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement
when it ¢xists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggr¢gate, they could reasonably be expected to influence the economic decisions of users taken on the basis of
these financial statements.
As part of an audit in accordance with ISAS (UK). we exercise professional judgement and maintsin
professional scepticism throughout the audil.
Irregularilies, including fraud, are instances of non-compliance with laws and regulations. W¢ design pro¢edures
in line with our r¢sponsibilities. outlined above. to detect material misstatements in respect of irregularities.
in¢luding fraud. The extent to which our procedures are cap&ble of deiec¢in8 irregularities. including frdud is
deiailed below.
The extent to whlch the audlt was consldered capable of detectln% Irre%vl*rlties Including fraud
Our approach to identifying and assessing ihe risks of maierial misstat¢m¢nt in respect of irregularities,
including fraud and non•compliance with laws and regulations. was as follows:
the engagement partner ensured thai (he engagement ieam colle¢tiv¢ly had the approprtate competence,
capabilities and skills 10 identify or recognise non-Lomplianc¢ with applicabl¢ laws and regulations;
we ideniified the laws and regulations applicable lo th¢ charity through dis¢ussions with directors and
other management, and from our commercial knowledge and experi￿¢¢ of the charities sector.
we focused on specific laws and regulations which we considered may have a direct maierial effeci on
Ihe financial statements or the operations of the charity, including the Companies Aet 2006, Charities
Act 201 I, taxation legislation, data proiection, employmeni and health and safety legislation:
w¢ assessed the extent of compliance with the Imws and regulations ideniified above through making
enquiri¢s of management. reviewing licenses. certificates and relevani correspondence including Ihe
inspeciion of legal cotTespondence- and
identified laws and regulations were communicated within the audit team regularly and the team
remained alert lo instances of non-compliance throughout the audit.
We assessed the 5uscepiibilily of (he chariiy's financial s¢at¢ments 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 io fraud. their
knowledge of acTual. suspecied 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 ihrough managemeni bias and override of controls. we..
perfomied analyiical procedures to identify any unusual or unexpected relalionships-
tested joumal ¢ntri¢s lo identify unusual trnnsactions.
Page 12

Tax Volunteers
Independent Auditor's Report to the Members and Trustees of Tax Volunteers
assessed whether judgements and &ssumptions made in detemining the accouniing estimates were
indicaiive of potential bias; and
invesligaled th¢ rationale behind significant or unusual transactions.
In response io the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included. bul werc not limited to..
agreeing financial sialemeni disclosures lo underlying 8UPPOrting doCumen￿lI0n.
enquiring of management as lo actual and potential litigation and claims.
ading the minutes of meetings of ihosL charged with goyernanLe; and
reviewing correspondence with HMRC. relevant regulators and the company's legal advisors.
There are inh¢r¢nt limitations in our audit proLedures dLscribed abovL. The more removed thai laws and
regulations are from financial transactions, the le55 likely li is ihai we would become aware of non-Lompliance.
Auditing stgndards also limit the audit procedures required iu idcntify non-compliance with laws and regulations
lo enquiry of Ihe directors and other m4nagem¢nt and the inSp￿tIon of ￿gulatOry gnd leg81 corre5pond¢n¢e. if
any.
Material mi5slatemen(s that arise due to fruud Lan be harder io delect ihan ihose ihat arise from error as they
may involve deliberate concealmenl or collusion.
A fijrther description of our respon%ibiliii¢s is availabl¥ on the Financial Reportin¥ Council's websile at:
ww.frc.org.uklauditorsresponsibiliiies. Thi% description fonns pan of our auditor's report.
Use of our report
This rLpon is made 501ely lo the charitable company's tru51ees. as a body, in accordance wilh Chapler 3 of Part
16 of ihL Companies Aci 2006. Our audii work has blen undcrtakLn so that we might slate lo the charilgble
compdny's Irustees Ihose matters we are required lo slaie lo Ihem in an audiior's report and for no uther purpose.
To th¢ full¢st ¢xt¢nl p¢rniitted by law, WL do not accept or a55ume re5ponsibiliiy lo anyone othL'r Ihan Ihe
chariiable company 8nd its trust¢¢s 8s a l)ody, for our audil work, for this report, or for the opinion5 we have
fomied.
LP
Mr David TuckLr (Senior Sialulory Audilor)
For and on bL'haif ofThompson Jenncr LLP. Sialulory Auditor
I CollLton Crescent
Exeter
Devon
EX2 4DG
Pag¢ 13

Tax Volunteers
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Unre5trlcted
Re5trleted
Total 2024
2024
Note
Income and Endoivmentg from:
Donation% and ILgaLiL
Charitsble Aciivilies
Inv¢stmeni incom¢
274,022
332,865
147.658
606.887
147.658
2,747
2,747
Tothl Income
276.769
480,523
757.292
Expendlture on:
Raisin8 funds
Charilabl¢ actiyities
{42.094)
1219.782)
142,0941
(700,305)
{480,5231
Total Expenditure
{261,876
480.523)
742.399)
Net income
14.893
14,893
Nel movement in funds
14.893
14,893
Reconclllatlon of funds
Tu￿1 funds bruu¥hi forward
Total funds carried forward
440,223
12,721
452.944
18
455,116
12.721
467.837
Unrestrlcted
Rejtrlcted
Toto12023
2023
Income xnd EDdoThments from:
Donalions and l¢gaLie
Ch&riiable activitils
Inv¢slment income
304.847
313,233
147,638
618.080
147.658
896
896
Total Incom¢
305,743
460.891
766.634
Expendlture on:
Railing? fuiid
chan￿b]e activitie5
(39.162)
1292.4881
(39.162)
741.7291
449,2411
Tolal Expenditure
1331.650)
{449,?411
(780,891)
N¢1 lexpendiiur¢Vincome
(25.907)
11.650
114.257)
Net mov¢m¢nt ii) funds
(25,907)
11,650
(14,257)
Retonelll*tlon of funds
To￿1 funds broughi forward
Total funds carried fotward
466,130
1,071
467.201
18
440.223
12,721
452.944
All of th¢ ¢haritable company's activili¢s derive from cofttinuing operation5 during the above Iwo periods.
The funds. br¢akdown for 2023 is shown in note 18.
The notes on pages 17 to 30 forni an integral part of these financial staiements.
Pagc 14

Tax Volunteers
(Registration number: 04894491)
Balance Sheet as at 31 March 2024
2024
2023
Note
Flxed assets
Tangible assets
12
2,082
3,264
2,082
3.264
Current Assets
DL'btors
Cash at bank and in hand
13
14
90,390
411.682
139,066
351.426
502.072
490,492
Credltors: Amounts fAlllng due wlthln one year
15
{36,317
(40.812)
Net current assets
465,755
449,680
Net Assets
467.837
Funds of the charltable Company:
Restrlcted
12,721
12,721
Unrestrlcted Income funds
UnrL'siriL¢ed
455,116
440,223
Total funds
18
467,837
452.944
The fi
ancial siaiements on pages 14 to 30 were 3pprov¢d by the iru5te¢s. and lluthorised for issue on
and signed on their behalf by..
J G Whiiehead
Trustee
A M Mollell Imanan Drew)
Trusiee
The notes on pages 17 to 30 forni an integrdl part of these financial statements.
Page 15

Tax Volunteers
Statement of Cash Flows for the Year Ended 31 March 2024
2024
2023
Cosh flows from oper4tlng acrfvltles
Nei cash incomel(expenditure)
14.893
(14,2571
Adjustments to Cash nows from non-cAsh Items
Depreciation
Invesimenl income
1.182
2,747)
3.780
(8961
13,328
111,373)
Worklng eApltAI Adjustments
Decreasellincreasel in debiors
Decrease in creditors
13
15
48.676
4.495)
145,527)
{4.815)
Nel cash flows from operating activities
57,509
(61.715)
Cash nows from InvegtlnR Actlvltles
Interest rcc¢ivable and simil8r income
Purchase of tangible fixed assets
2.747
896
(2,341)
12
Nel cash flows from investin8 aciiviiies
Net 1ncr¢8selldec￿aseI in cash and cash equivalents
2,747
(1.4451
60,256
(63,160)
Cash 8nd cash equivalenls HI l April
351.420
414.586
Cash and cash equivalen(s At 31 March
411,682
351,426
All ofthe cash flow5 d¢riv¢d from continuing operations durin8 the above two periods.
The notes on pages 17 to 30 forni an integral pan of ihese financial statements.
PagL 10

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
I Charitable company Status
The charitable company is a charitable company limited by guarantee and consequ¢ntly does not have share
capital. Each of the members is liable io contribute an amount not exceeding £10 towards the assets of the
charitable company in the event of liquidation. The company was incorporated in England and Wales and also
registered as a charity in Scotland, its registered otTice is Unit 10, Pineapple Business Park, Salway Ash,
Bridport, Dorset, DT6 5DB.
2 Accounting pollcles
Summary of slgnificsnt actountlng pollcles And key accoulltlng estlmates
The principal accounting policies appliLd in ihe preparaiion of Ih¢s¢ financial stat¢ments are set out below.
These policies have been consistently applied to all the years present¢d. unless otherwise stated.
Statement of compllance
The financial Statements have been prepared in accordance with Accounting and Reporting by Charities..
Ststement of Recommended Practice applicable to charities preparing their account5 in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective l January
2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basls of preparatlon
Tax Volunteers meets ihe definiiion of a public benefit entity under FRS 102. Assets and liabilities are initially
recognised ai historical cost or transaction value ynless otherwise stated in the relevant accounting rM)licy notes.
Golng concern
The trustecs consider thai there are no maierial uncertainltes aboul the charitable company's ability to ¢ontinu¢
as a going concern nor any significant areas of uncenainty ihai affect th¢ carrying value of assets held by the
charitsble company.
Income and endoivments
All incomc 15 recogni￿.d once the charity has entitlement to the income. it is probable that the income will be
received and the amount of the inLome receivable can be measured reliably. Income d¢rived from the provision
of goodslservices is stated after trade discounls, other sales taxes and net of VA T.
Grants receivable. which include grants of a general nature provided by government, are aCcoUn￿d for when
evidence of unconditional eniiilemeni is received except when they ar¢ subJ￿t to donor-imposed conditions.
Granis received which impose regional resirictions are treated as conlributing to the cost of providing frec tax
advice in that speLified area and Losis are apportioned on a quarterly basis commencing in the quarter follow'ing
the quarter in which the grant was receiN'ed. Income eamed for the provision of tax services under agreement
with commercial organisations is invoiced on a quarterly basis in arrears following the delivery of the service.
Pag¢ 17

Tax Volunteers
INotes to the Financial Statements for the Year Ended 31 March 2024
Donafvons and l¢gllcies
Donations are recognised when the charitable company has been noiified in writing of both the amount and
se¢ilemenl date. In the event that a donation is subjcci 10 conditions that require a level of pcrforn]ance by the
charitable company before the charitdble company is eniitled io the funds, Ihe income is deferred and not
r¢cognised until either thos¢ condiiions are fvlly mei. or ihe fulfilmenl of Ihose condiiions is wholly within the
control of the Charl￿ble company and ii is probable ihat Ihe5e conditions will be fulfilled in the reporting period.
Donaled service3 andfai'ililies
Donated professional 4ervices and donated facilities are recognised as income when the chariiy has conirol over
the ilem or received the service, any condiiions associaied with the dondiion have been mel, the receipt of
economiL benefit from use by ihe charity of thL l¢cm is probable and thu¢ economic bcnefil can be measured
reliably. In accordance wilh Ihe Charities SORP IFRS 1021. gLneral volunteer time is not rccogniscd so r¢fer to
the truste¢s' annual r¢port for more inforniation gbout their contribution.
On receipt. donat¢d gifts. professional servic¢5 and donated facilities are ￿08t}ISed on the bA8is of the v8lue of
thL gift to thc charity which is the gmount the charity would have been willing lo pay lo obiain services.
professional qualifi¢d tax personnel or facilili¢s of equiwalenl economic benefit on the open market,. a
corresponding amouni iy then reco¥nised in expendiiure in (he period of reL'eipt.
Dontsiiuns of gifts, services and facilities includL' s¢¢onded ¢mploy¢e5. IT sofiw8r¢ 8nd offic¥ space. Seconded
siaffs %erviceq are providL'd free of LhargL' to the charity and the cost of thL'ir salary 15 incurred by a third party.
IT software and otYILe spaLL are inLludcd at their estimut¢ mark¢( valuc when donaied.
Inve.Itment income
Bank inl¢re51 is ￿cO￿niSed once Ihe inlere51 has been received.
Eipendlture
All LXP¥ndi(ure is recognised once ihere is a legal or constructive oblig8tion to thai expendituff, it is probable
settlement is required and the amount can be m¢asur¢d reliably. All c05t5 are allocgled lo the gppliLabl¢
expLnditure heading that ag¥r¢¥alL similar costs lo that ¢al¥gory. Where costs cannot bl directly ullribuied lo
particular heading5 IhLy haN'L b¢<'n alloc#led on a ba%14 consi%lcnl with the use of re40urcL4. wilh CLnlral blaff
cos15 alloLaled on ihe basi5 of lime speni, and depreciaiion charges allocated on the portion of the assei'y use.
Other support cosls are all¢xaled based on the spread of siaff cosls.
Rai.¥in8lMnds
These are costs inCu￿ed in al(racling voluntary income, the management of investments and those incurred in
Irading aclivilies Ihal raise ￿nds.
Chqrilllble activlties
Charitable expenditure comprises Iho%¢ costs incU￿ed by the chariiable company in ihe delivery of its acliviiies
and serviLL5 for it% benefiLiaries. li inLludes both cosis thai can be alloLated directly to Such activities and those
costb. of an indirect na(ur¢ neLe55ary to sUPPOrt them.
Pag¢ 18

Tax Volunteers
1Sotes to the Financial Statements for the Year Ended 31 March 2024
Support costs
Resouwes expended are allocated to the particular activity where the cost Telates direcily to thal activiiy.
However, the cosi of overall direciion and adminisiraiion of each activity. comprising the salary and overhead
costs of the ceniral fimciion, is apportioned on the following basis which are an estimate, based on sthff time. of
the amount attributhble to each activity.
Where information about ihe aims. objectives and projects of the charity is provided to potential beneficiari¢5.
the costs a5￿)CIated with this publicity are allocated to charitable ¢xp¢ndtture.
Vhere such inforniation about the aims. obj¢ciiv¢s and projects of the chariry is also provided to poleniial
donors, activity cosis are apportioned between fwidraising and Charl￿ble activiiies on the basis of the personnel
involved with each aclivity.
2024
83%
2023
83￿/0
Advice services
Tax education
Cost of rnising funds
Governance costs
50/.
50/.
Governance cojts
These include the costs attributhble to the charithble company's compliance with constitutional and sthtutory
requirements, including audii. strategic managemeni and trustees meetings and reimbursed expenses.
Taxatlon
The chariiable company is considered to pass the sei out in Parngrnph I Schedule 6 of the Finance Act
2010 and therefore li meets the definiiion of a charitable company for UK corwrntion tax purposes.
Accordingly, the charitable company is poteniially exempi from L￿ation in respect of income or capital gains
re¢¢ived M'ithin caiegories ¢overed by Chapt¢r 3 Part I l of the Cortxirdtion Tax Act 2010 or Section 256 of the
T￿at10Th of Chargeabl¢ Gains Act 1992, to the ¢xtent that such incom¢ or gains are appli¢d exclusively to
haritable purposes.
T*nglble flxed 95sets
IndiN'idual fixed assets costing £5Th) or tN)re are initially recorded at cost. less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.
Depreclatlon and amortlsatlon
Depreciation is provided on thngible fixLxI assets so as to WTite off Ihe cost or valuation. less any eslimated
residual value, over their expecied usefvl economic lifr as follows:
A5Jet ¢19s5
Ledsehold improvements
Office equipmeni
Computer 4uipm¢nl
Call-centre equipment
Depreciation method and rat¢
Siraighi line over the life of the lease
4 years straighi line
4 Ye￿ straight line
4 years straighi line
Page 19

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services perfornied in the ordinary
course of business.
Trdde debtors are recognised initially al the transaclion price. They are subsequently measured at amortised cosl
using the effective interest meihod, less provision for impairment. A provision for the tmpaimieni of irade
debtor5 is established when there is objeciive evi(l¢n¢e that the charitsble company will noi be able io collect all
amounts due according io the original tenns of the receivables.
Cash and c*5h equlTr'*lents
Cash and cash equii"alenis comprise cash on hand and call de￿SItS. and other short-terni highly liquid
investments that ar¢ readily convertible to a known amouni of cash and are subject to an insi￿lficant risk of
change in value.
Trade credltors
Trade crediiors are obl1￿110n5 to pay for gocrfls or services thai have been acquired in the ordinary course of
businw from suppliers. Accounts payable are classified as CWTeni liabiliii¢5 if the charitable company does not
have an unconditional right. at the end of the re￿rtIll8 period, to defer settlement of the creditor for ai least
twelve months after the reporting dale. If there is an unconditional righi to defer settlement for ai l¢ast twelve
months after the reporting date. they ￿e presenied &$ non•current liabilities.
Trdde creditor5 are recO￿lSed iniiially at the transaaion price and subs¢quently measured at amortised cosi
Using the effective interest method.
Fynd structsre
Unrestricted income funds are general funds thai are available for use at the tn￿lee5 discretion in furtherance of
th¢ objectives of the charitable company.
Desigmated funds are unrestricied funds sel aside for spwific purposes at the discretion of the trusw.
Restricted income are those don8￿ for use in a particular area or for specific puryx)ses, the use of which
is restricted to thai area or purFx)se.
Pensions and oiher post retlrement obllgatlons
The charitable company operdtes a defined contribution pension scheme which 15 a pension plan under which
fixed contributions are paid into a penston fvnd and the charitable company has no legal or consiruciive
obligation to pay further contributions even if the does not hold sutTicient assets to pay all employees the
benefits relating to employ¢¢ sffvice in the current and prior periods.
Coniributions to defined contribution plan5 are recognised in the s￿lemen1 of Fina￿la1 Activities when they are
due. If contribution payTh¢nts exceed the contribution due for service. Ihe excess is recognised as a prepayment.
Page 20

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
Flngncllll Instruments
Classificarlon
Financial assets and financial liabilities are recognised when the charity b¢comes a party to the contrnciual
provisions of the instsumenl.
Financial liabilities and equity instnunents are classified according lo the subslance of the contractual
a￿angeMentS entered into. An equity instrument is any contract that evidences a residual interest in the assets of
the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are inilially m¢asured at transaction price (including transaction costs), except
for those financial assets classified as at fair value through profil or loss, which are initially measured al fair
value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a
financing transaction. If an arrangement consliiui¢s 8 financing ifdnsaction. the financial asset or financial
liability is measured ai the pr¢s¢nt N'alue of the future payments discounted at a market rate of interest for a
similar debt instrument.
Financial ass¢ts and liabilities are only off5¢t in the statement of financial position when. and only when there
exists a legally enforceable right lo sei off the r¢cosmised amounts and the charitable company intends either to
settle on a net basis. or to realise the asset and settle the liability simultaneously.
Financial assets are der¢cognised when and only when a) th¢ contractual righis lo the cash flows from the
financial assei expire or are settled, b) the charitabl¢ company transfers to another party substantially all of the
risks and rewards of ownership of the financial asset, or c) the charitable company, despite having reiained
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another
party.
Financial liabilitie5 8r¢ derecognised only when the obligation specified in the cont￿1 l5 discharged, cancelled
or expires.
Impairment
At ihe end of ea¢h reporting period financial assets measured ai amortised cosi are assessed for obje¢tive
evidence of impairment. If an assei is impaired the impaimieni loss is the difference between the carying
amount and the present value of the es(imat¢d cash flows discounied ai th¢ &sset's original effective tnt¢rest rdte.
The impaimieni 1055 is reCo￿lSed in the S￿lemen1 of financial activites.
Page21

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
3 Income from don*tlons and legacles
Unrestrlcted
funds
Restrleted
fund5
Total
2024
Gener*1
2023
HM Revenue & Customs
Chartered Instiiute of Tax4tion
Association of Tax&iion Technicians
300.365
30,000
300,365
30,000
271,583
30,000
11,650
15,(M)O
4.(M>O
5,¢M)O
xps
Tax Advisers, Charithble Trust
The Beeching Trusi
Pos¢code Local Trusl
Oakdene Foundation
Charles French Charithble Trust
Individual and other donalions
Donated facilities and services
15.(K)O
4.IN)O
15,000
4,000
25,000
2.500
25,0(M)
2.500
2,500
115.453
12,069
2,500
115,453
112,069
111,628
169,219
Totsl income 2024
274,022
332.865
606,887
618,080
Tothl income 2023
304.847
313.233
618.080
Other donations include5 50% of the following amounts greA￿r than £3,¢X)O from organisations received
through Bridge The Gap. This is a joint initiative set up by Tax Volunteers and TaxAid UK, whereby amounts
received are split equally between the two charities.
2024
2023
Deloitte
Kathleen Beryl Sleigh Charitsbl¢ Trust
London Legal Support
Norton Rose Fulbright
Tax Advisers, Charitable Trusi (the Worshipful CompRny of Tax Advisers)
Virtu&l CPD Events
Freshfields
BDO
14,352
5,000
3,537
5.(K)O
4.(K)O
18,882
10,000
4,000
26.171
9,998
7,755
5.000
Proskauer Rose
Page 22

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
4 ID¢ome from eharÉtible actlvlties
Restrlcted
funds
Total
funds
AVtVA Life Services Lid
Rothesay Life
Coal Board Pension TNslee Servic¢5 Ltd
32.650
84,000
31,008
32.650
84.000
31,008
Total for 2024
147,658
147,658
Total for 2023
147,658
147.658
5 Investment 5ncome
Unrestrlcted
funds
General
Totsl
funds
Inl¢rest receivabl¢ and similt4r income:
Interest receivable on bank deposits
2,747
2,747
Total for 2024
2,747
2,747
Tot41 for 2023
896
896
Page 23

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Expendlture on eharftable activities
CO￿ of
r*frsln% funds
Govern•nct
cost5
Totsl
2024
Total
2023
Tax advlet
T*x edmcxtioa
SuP￿rt costs
Staff costs
Gifts in kind
Deprecialion
Telephone
Post&ge and sthtionery
Advertising
Legal and professional fees
Volunleer expenses
Rent, rntes and services
Bank charges
Audit
Insurnnce
21.824
249,918
112.(N59
16.544
14.080
2(K).9(A)
503.356
112.069
1.18?
15.967
4,514
471,130
169.219
3.780
13.808
3.710
1.182
15.967
1277
3237
1.582
1.049
345
11,927
2.(A)3
31.883
212
6.326
3.1
l.(K18
5.705
41.374
1.083
8,201
3.574
37,232
222
1554
31.883
212
6.326
413
1777
l.(M)8
5.475
41.374
1.083
3,402
9,224
Repairs and mainienance
Staff trdv¢I and trdining
Computer costs
Sundry
230
42.076
667
21.824
20.270
381.015
240.340
16.544
14.478
33,450
14.478
289.566
(289.566)
742 J99
780.891
Support Costs
Total expendiluTe 2024
42.094
621,355
31,022
47.928
74?.399
Totsl expenditure 2023
39.162
670?16
28.067
43.446
780.891
Page 24

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Net Incomlngloutgolng resources
Nei incominW(outgoing) resources for the year include:
2024
2023
Operating le85e8 - other assets
Audit fees
Depreciation of fixed 8&5ets
128,854)
{6,326)
(34.541)
{6.000)
{3,780)
8 Trustees, remuner*tlon and expenses
No trustees. nor any per50n8 connected with any INs(e¢, h&8 received any remuneration from the charitable
Company durin8 the year.
The INslees' Irav¢lling expenses are reimbursed in respect of expenses incU￿ed on charity business. In the year
6 trustees {2023 31 claim¢d r¢imbur5LmLn( of travellin8 and accommoduiion expenses lotalling £1,049 {2023
£723).
9 Staff costl
The aBgr¢gat¢ payroll cosls were as follows..
2024
2023
StAfT ¢oits durlng the ye4r were:
Wages and salaries
Social securiiy coyls
Pension costs
OthLr stdff costs
416.361
37,891
16.457
32,fv17
391,955
34,614
14.656
29,905
503.356
471,130
The monihly average number of persons employed by the charity or working for the bencfil of th¢ charity.
inLluding thos¢ on joint employmenl contracts with TaxAid UK ((Nole 21) which inLludes th¢ s¢nior
management leam). was 2112023 - 231.
The monthly average number of per50ns employed by lh¢ charity or working for the benefil of the charity,
expressed as full-time equivalents was as follows..
2024
2023
Raising funds
Advice service5
Tax educalion
Support
Governance
14.3
14.5
Pag¢ 25

Tax Volunteers
Notes to the Financial Statement5 for the Year Ended 31 March 2024
During the year, the charitable company made redundancy an(Vor temiination payments which iotalled £Nil
(2023 - £5.040).
The terniination payments made in 2023 comprised ex-gratia payments made under settlement agreemenls
during the period.
No employee received emolumenls of more than £60,000 durin8 the year.
The lo181 employee benefits of the key man8g¢m¢ni personnel of the charilable Lompany w¢re £46,145 {2023
£43.3321 which in¢ludLs the grossin¥ up of cos(s to cover (ravelling beiween two Pl￿¢5 of work.
10 Audltorj, remun¢rAtlon
2024
2023
Audii of the financi41 slalementy
6.326
6,000
Other feel to audltorg
All oihLr non-audii services
3.860
3,860
I l Taxatlon
Th¢ charitable company is a reBislered charity and 15 therefore exempl from corporation lax on ils income.
12 TAnglble flxed Assets
Leasehold
Improvements
Offlce
equlpment
Computer
cqulpment
CAII-cen¢re
equlpment
Tot*1
Cost
Ai l April 2023
654
5.417
15.511
5.261
26,843
At 31 March 2024
654
5.417
15.511
5,261
26.843
Depreclatlon
Ai l April 2023
Charg¢ for the year
654
5.417
12,247
,182
5.261
23,579
1.182
Ai 31 March 2024
654
5.417
13,429
5,261
24.761
et book value
Ai 31 March 2024
2,082
2.082
Ai 31 March 2023
3.264
3.264
Page 26

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
13 Debtor$
2024
2023
Trade debtors
Prepayments
Oiher debtors
527
5.752
84.111
15,527
5.480
118,059
90,390
139.066
14 Cash and tash equlvalents
2024
2023
Cash at bank
411,682
351,426
15 Credltors: amounts fAlllng due wlthln one ye*r
2024
2023
Trade creditors
Other t￿￿tIOn and social security
Other creditors
Accruals
2.087
5.172
5.088
23.970
2.066
5.674
5.588
27,484
36.317
40,812
16 Obllgatlons under lea￿$ and hlre purchase contrActs
Operatlng leA5e ¢ommltments
To￿1 future minimum lease payments under non-cancellable operaling leases are as follows..
2024
2023
Land and bulldlngs
Within one ywar
Between one and five years
21,450
7,150
21.450
28.600
28,600
50.050
Other
Within one year
Beiween on¢ and five years
260
1.042
3.208
1,302
3.208
Th¢ amounl of non-cancellable operating lease payments recognised as an expense during the year was £28.854
(2023 £34.541).
Page 27

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
17 Penslon and other schemes
Deflned contrlbutlon penslon scheme
The charithble company operates a defined contribuiion pension scheme. The pension cost charge for the year
represents contributions payable by the charitable company io the scheme and amounied io £16.457 {2023
£14,656).
18 Funds
B#lAnce At
31 Marcb
2024
Balince at I
Aprll 2023
Incoming
resources
Resourc¢5
expended
TrAnsfers
Unrestrlcted fund$
General
General fund
440,223
276,769
(261,876)
(114,324)
340,792
De51gntsred
Designated fund
14,324
114,324
Total unrestrlcted funds
440.223
276,769
261,876)
455.116
Restrleted funds
HM Rev¢nue & Customs
Aviva Life Services Lid
Chartered Insiiluie of
Taxaiion
Association of Taxation
Technicians
Esmée Fairbairn
Roihesay Life
Minework¢rs Pension
Scheme & Brit15h Coal Staff
Sup¢rannuation Scheme
CSFCT Grdnt
300.365
32.650
(300.365)
(32,650)
30,0(K)
{30,000)
11,650
1.071
11,650
1,071
84.(K)O
(84,000)
31.(K18
2,500
(31.008)
{2,5001
Total reslrlcted funds
12,721
480.52.1
1480,5231
12,721
Total fundi
452.944
467.837
Page 28

Tydx Volunteer5
Note5 to the Financial Statements for the Year Ended 31 March 2024
Balance at I
Aprll 2022
Incomlng
resources
Resource5
expended
Balan¢e at 31
Mgrrb 2023
Unrestrlcted funds
General
General fLmd
466.130
305.743
(331,650)
440,223
Restrl¢ted
HM Revenue & Cusioms
Aviva Life Services LUJ
Chartered Institute of Taxation
Association of Taxation
Technicians
Esmée Fairbaim
Rothesay Life
Mineworkers Pension Scheme &
British Coal Suiff Superannuation
Scheme
271.583
32,650
30,IYK)
(271.583)
(32,650}
(JO.IKK))
11.650
11,650
1.071
1.071
84.¢XM)
(84.OIK))
31,(KJ8
{31,008)
Total restrlcted funds
1.071
460.891
449.241)
12,721
Total funds
467.201
766,634
780,891
452,944
The specific purpose5 for which the funds are to be applied are a5 follows..
Advice services
This fimd represenis income which is for (klivering the main charithble purpose of Tax Volunteers, that of
advising older low income clienis and the gen¢ralist voluntary sector on tax matters.
Tax education
This fund represents income provided ￿ improv¢ a¢ces5 to infornwtion on tax so that older people on low
incomes are aware of their rights 8nd reS￿nsIbIlItieS under the tax system. It is delivered through conferences.
seminars, rraining and the Tax Volunteers website. The funds from th¢ Chartered Institute of Taxation and ihe
Association of Tax Technicians are ¢xclusis'ely for tax educ&ion. Chher restricied and unrestricted fund5 deliver
both advice services and tax education.
Designated fimds
This fund represents the calculated slatutory rdundancy costs and paymeni in Iteu of nolice that would be
payable should the charitable company Ce￿ w opernlc.
Page 29

Tax Volunteers
Notes to the Financial Statements for the Year Ended 31 March 2024
19 AnAlysls of net assets between funds
Unres¢rlc¢ed
funds
Restrlcted
runds
Total funds It
31 March 2024
Tangible fixed assets
Current aS￿ts
Current liabilities
2.082
489,351
36,317
2,082
502.072
36,317
12.721
Total nei assets
455.116
12.721
467.837
Unrutrlced
funds
Re5trlcted
funds
Tolal funds 1¢
31 Mar¢h 2023
Tangible fixed asse
Current assets
Current liabilities
3.264
477.771
140,812
3,264
490,492
40.812
12,721
Tothl nei a￿e
440.223
12.721
45?.944
20 Analyils of net fundj
Ai l Aprli
2023
Fln#ncln8 cash
fl0Th5
At 31 March
2024
CAsh at bank and in hand
351.426
60.256
411.682
Total
351.4?6
60.256
411.682
21 Related Party tr•nJ•ctlO￿I
TaxAid UK. a relaied party by virtue of shared CEO, Valerie Boggs. op¢rai¢d the payroll on behalf of Tax
Volunleers during th¢ y¢ar in relation to employees held on joini employmenl contracts. Payroll Costs for the
year and r￿harged frorn T￿Aid UK to Tax Volunieers I0￿1]ed £470.709 (2023 - £441 ?25). No amounts w¢r¢
outsthndin8 81 the year end in rcspecl of payroll co$l$.
During th¢ year, income ￿thI11n8 £85,405 {2023 £92.672) was coll¢ct¢d by TaxAid UK on behalf of Tax
Volunt¢¢rs in connection with the Bridge The Gap fundrAi$in8 initiativ¢. At ihe year ¢nd. the amount due from
TaxAid UK. included in other debtor5 in the financial S￿lements. w&5 £15.182 (2023 £36.277). A further
£21.163 (2023 £37.520) included within other debtors is due from TaxAid iiK in relation to r¢charged shared
cosi$ and £19.37312023 - £?3.461 l included within other creditors is due (o TaKAid UK in relation to r¢charged
shared costs.
Donaiions were received from Trusltts during th¢ ycar totslling £0￿ (2023: £6.200). No restriciions have been
attached io these donations.
Page 30