Young Mums Support Network (YMSN) submitted a project with the aim of clarification on tax implications with regards to finances generated through fundraising. YMSN works to reduce isolation in parenthood, helps mothers to manage their homes, and offers cooking courses, sewing and gardening as well as back to work courses. YMSN receives grant funds and was in the process of completing a crowdfunding campaign to run more courses and develop the Wandsworth Hub for that purpose.
After a successful fundraising campaign it was clear that YMSN would have surplus funds at the end of the tax year and wished to ensure that the organisation had minimal exposure to tax. As a result YMSN were in need of support from a volunteer with tax expertise.
With a personal goal of demystifying the world of finance, Jagdeep rose to the task of providing crucial tax consultancy for YMSN. Upon receiving a background from the organisation, Jagdeep began drawing up an analysis that detailed the impact of the end of the tax year on funds generated through the campaign. Following this, Jagdeep spent a consultancy session explaining the analysis as well as answering any questions that YMSN had, further tailoring to fit the specific needs of the organisation.
Jagdeep’s assessment provided security in the organisations understanding of their financial situation. Not only was the analysis well received, it was also turned around in an incredibly timely and efficient manner.
‘Jagdeep’s support was very helpful in filling a gap in our professional experience’ Tom – Young Mums Support Network