THE CHARTERED INSTITUTE OF TAXATION

Charity number: 1037771
Charity reporting is up to date (on time)

Charity overview

Activities - how the charity spends its money

As an educational charity, we work to improve the administration and practice of taxation to the benefit of all affected by it: protecting the public by monitoring Chartered Tax Advisers' compliance with regulations; setting and administering tax examinations; advising government on proposed and enacted tax legislation; giving general tax education on websites; and making grants for tax research.

Income and expenditure

Data for financial year ending 31 December 2023

Total income:
£10,682,579

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Donations and legacies £20.00k
Charitable activities £10.41m
Other trading activities £0
Investments £219.20k
Other £37.90k

Total expenditure:
£10,060,783

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Raising funds £39.30k
Charitable activities £10.02m
Other £0

£420,854 investments gains (losses)

Total income includes £35,000 from 1 government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

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Raising funds and other expenditure £39.30k
Charitable expenditure £10.02m
Retained for future use £621.80k

People

88 Employee(s)

18 Trustee(s)

750 Volunteer(s)

Employees with total benefits over £60,000

Number of employees
£60k to £70k 14
£70k to £80k 6
£80k to £90k 4
£90k to £100k 6
£100k to £110k 3
£110k to £120k 2
£120k to £130k 1
£150k to £200k 2

Fundraising

No information available

Trading

This charity does not have any trading subsidiaries.

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • Education/training
  • Other Charitable Purposes
Who the charity helps:
  • Children/young People
  • Elderly/old People
  • People With Disabilities
  • Other Charities Or Voluntary Bodies
  • Other Defined Groups
  • The General Public/mankind
How the charity helps:
  • Makes Grants To Individuals
  • Makes Grants To Organisations
  • Provides Human Resources
  • Provides Services
  • Provides Advocacy/advice/information
  • Sponsors Or Undertakes Research
  • Acts As An Umbrella Or Resource Body
Where the charity operates:
  • Throughout England And Wales
  • Northern Ireland
  • Scotland

Governance

Registration history:
  • 19 May 1994: Standard registration
Organisation type:
Other
Other names:
  • CIOT (Working name)
  • CHARTERED INSTITUTE OF TAXATION (Previous name)
Gift aid:
Not recognised by HMRC for gift aid
Other regulators:
No information available
Policies:
  • Bullying and harassment policy and procedures
  • Campaigns and political activity policy and procedures
  • Complaints handling
  • Complaints policy and procedures
  • Conflicting interests
  • Engaging external speakers at charity events policy and procedures
  • Financial reserves policy and procedures
  • Internal charity financial controls policy and procedures
  • Internal risk management policy and procedures
  • Investing charity funds policy and procedures
  • Investment
  • Paying staff
  • Risk management
  • Safeguarding policy and procedures
  • Safeguarding vulnerable beneficiaries
  • Serious incident reporting policy and procedures
  • Social media policy and procedures
  • Trustee conflicts of interest policy and procedures
  • Trustee expenses policy and procedures
  • Volunteer management
Land and property:
This charity owns and/or leases land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

18 Trustee(s)

Name Role Date of appointment Other trusteeships Reporting status of other trusteeships
Charlotte Mary Barbour Chair 08 January 2019
None on record
Sofia Thomas Trustee 05 June 2024
None on record
Alistair John Cliff Trustee 24 April 2024
None on record
Xiaoshan Sun Trustee 24 April 2024
None on record
Muhammad Mobeen-Ul-Anwar Ismail Trustee 13 April 2021
None on record
Sarah Hewson Trustee 13 April 2021
None on record
Joanna Bello-Fuentes Trustee 13 April 2021
None on record
Ashley Vimbai Thelma Makoni Trustee 13 April 2021
None on record
Christopher Shrubsole Trustee 13 April 2021
None on record
Professor Penelope Ann Louise Tuck Trustee 08 January 2019
None on record
Nikhil Vasant Mehta Trustee 09 October 2018
None on record
PAUL STEPHEN APLIN Trustee 10 October 2017
ROBERT BRUCE BARNES CHARITABLE TRUST
Received: On time
SUSAN MARY HOWARTH Trustee 14 March 2017
None on record
JONATHAN CHARLES RILEY Trustee 14 March 2017
None on record
NICHOLA ANNE LUCK Trustee 14 March 2017
None on record
PETER CYRIL RAYNEY Trustee 05 July 2016
None on record
JOHN EDWARD BARNETT Trustee 18 March 2014
SIXTY-ONE
Received: On time
GARY JAMES ASHFORD Trustee 11 January 2011
None on record

Financial history

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Financial period end date

Income / Expenditure 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Total gross income £8.84m £8.30m £9.82m £9.88m £10.68m
Total expenditure £9.70m £7.68m £8.28m £9.08m £10.06m
Income from government contracts N/A N/A N/A N/A N/A
Income from government grants £35.00k £79.89k £35.00k £35.00k £35.00k
Income - Donations and legacies £0 £0 £35.00k £35.00k £20.00k
Income - Other trading activities £40.98k £46.40k £52.00k £77.06k £0
Income - Charitable activities £8.67m £8.15m £9.62m £9.62m £10.41m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £131.37k £105.31k £108.07k £150.59k £219.20k
Income - Other £0 £0 £0 £0 £37.90k
Income - Legacies £0 £0 £0 £0 £20.00k
Expenditure - Charitable activities £9.69m £7.66m £8.27m £9.06m £10.02m
Expenditure - Raising funds £11.77k £14.73k £15.67k £21.52k £39.30k
Expenditure - Governance £335.27k £173.87k £176.05k £112.27k £199.20k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £11.77k £14.73k £15.67k £21.52k £39.30k
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

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Asset / Liability 31/12/2019 31/12/2020 31/12/2021 31/12/2022 31/12/2023
Own use assets £2.86m £2.91m £2.35m £1.41m £1.26m
Long-term investments £4.63m £3.77m £3.89m £3.99m £6.36m
Other assets £2.37m £4.74m £5.68m £7.46m £6.29m
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £4.18m £5.04m £3.85m £4.05m £4.06m

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 December 2023 29 August 2024 On Time
Accounts and TAR 31 December 2023 29 August 2024 On Time Download Open in new window
Annual return 31 December 2022 12 July 2023 On Time
Accounts and TAR 31 December 2022 12 July 2023 On Time Download Open in new window
Annual return 31 December 2021 20 July 2022 On Time
Accounts and TAR 31 December 2021 20 July 2022 On Time Download Open in new window
Annual return 31 December 2020 21 July 2021 On Time
Accounts and TAR 31 December 2020 21 July 2021 On Time Download Open in new window
Annual return 31 December 2019 29 July 2020 On Time
Accounts and TAR 31 December 2019 29 July 2020 On Time Download Open in new window
Submit annual return Open in new window

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

ROYAL CHARTER AND BYELAWS 29 APRIL 1994, AMENDED 10 OCTOBER 2007 as amended by order dated 15 Jul 2015

Charitable objects

(1) TO ADVANCE PUBLIC EDUCATION IN AND THE PROMOTION OF THE STUDY OF THE ADMINISTRATION AND PRACTICE OF TAXATION AND THE PRINCIPLES OF ECONOMIC AND POLITICAL SCIENCE IN RELATION TO TAXATION; (2) (I) TO PREVENT CRIME AND (II) TO PROMOTE THE SOUND ADMINISTRATION OF THE LAW FOR THE PUBLIC BENEFIT BY PROMOTING AND ENFORCING STANDARDS OF PROFESSIONAL CONDUCT AMONGST THOSE ENGAGED IN THE PROVISION AND OF ADVICE AND SERVICES IN RELATION TO TAXATION AND MONITORING AND SUPERVISING THEIR COMPLIANCE WITH MONEY LAUNDERING LEGISLATION.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NOT DEFINED

Contact information

Address:
Chartered Institute of Taxation
30-33 Monck Street
LONDON
SW1P 2AP
Phone:
02073400550
Email:
post@ciot.org.uk
Website:

www.tax.org.uk Open in new window