Our blog on the latest issues affecting the charity sector
Risk of CEO cyber fraud
January 7, 2019
Action Fraud has recently reported a new variation on this type of fraud, whereby charities are targeted by fraudsters purporting to be the CEO (or a similar senior position within the charity) requesting that gift card vouchers be purchased for staff as a form of bonus.
The Wellcome Trust wins £13m VAT case
December 14, 2018
The Wellcome Trust is a leading funder of research intended to improve human and animal health. It has recently won a case against HMRC that will result in £13m of retrospective savings for the charity.
Changes to Gift Aid accounting from 1 January 2019
December 10, 2018
This area of accounting was reviewed by the Financial Reporting Council in 2017 and an amendment to Financial Reporting Standard 102 was made which changes how gift aid is accounted for within charities’ commercial subsidiaries.
What your reserves say about your charity
November 29, 2018
Reserves are not just a fund set aside for that rainy day; they are a signal to your supporters.
Charity Digital Code of Practice launched
November 16, 2018
The UK’s first digital code of practice was launched yesterday following consultations with charity representatives.
Increase to charities small trading limit
November 5, 2018
The small trading exemption limit allows Charities with gross trading income under the threshold to treat their non-primary purpose trading profit as exempt for income and corporation tax purposes.
Changes to VAT returns from 1 April 2019 – are you ready?
October 8, 2018
Mandatory changes come into effect on 1 April 2019 that will fundamentally change the VAT return system. You will no longer be able to submit returns through the government gateway and must use software that will allow digital submission to HMRC.
A third of small charities not reporting to acceptable standards, according to Commission
October 2, 2018
The Charity Commission has recently published the result of its latest monitoring reviews of charity trustees’ annual reports and accounts, and it is urging charities to do better.
Five ways to highlight your charity’s benefits in the Annual Report
September 11, 2018
Many charities prepare an annual summary report to send out to supporters and potential donors, and this is a great opportunity to highlight who benefits from their donations, and in what way.
Charity trustees and senior management: Automatic disqualification rules
August 23, 2018
On the 1 August 2018, the Charity Commission changed the rules concerning persons who are automatically disqualified from being a trustee. Read on for more information on the new rules, the responsibilities of your charity and how best to adhere to the rules.