Deborah Austin

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Trading subsidiaries

Charities often involve themselves in non-prime purpose activities to generate income from which they can fund their charitable purposes.  Where these activities meet the “badges of trade” (see below) and breach certain size thresholds it is not tax efficient for them to remain within the charity itself so a trading subsidiary will often be established so… Read More

Charity Commission – Matters of Material Significance

The Charity Commission’s key focus over the last year has been to improve public trust in Charities through transparency in both the accounts they file and the story they present. The Commission remain concerned that charities advisers are not reporting “reportable matters” when they arise. Charity Trustees have a duty to appoint an independent examiner… Read More

Charity Structures – Limited company, CIC, unincorporated?

A Charity’s structure can often be something that is not revisited by Trustees. The structure that was most suitable when the charitable activities were first set up, may not be the most appropriate format now, as the charity may have evolved and grown in a manner or at a pace that was not originally envisaged…. Read More

Gift Aid – Have you made your claim?

Charities and Community Amateur Sports Clubs (CASC’s) are potentially able to recover 25p for each £1 of donation they receive. To be eligible to register with HMRC to claim gift aid you must be either a UK CASC, or a charity based in the UK (or the EU, Iceland, Liechtenstein or Norway – pre Brexit),… Read More

What examination of your charity accounts do you legally require?

We are all creatures of habit and know how easy it is to continue doing things in a certain way because “that’s what we’ve always done”. The same habits can be applied to the preparation and examination of the year end financial statements. For some charities, there is no need to revisit what level of… Read More

Charities – Are you ready for Making Tax Digital?

There has been much news regarding being prepared for Making Tax Digital for VAT (MTD-VAT). VAT registered entities (charitable or not) with turnover above the VAT threshold (currently £85,000) will need to keep their records digitally and send their VAT return data to HRMC using MTD-compatible software for VAT periods commencing on or after 1… Read More

Charities Commission Annual Return Update

Many charities have now been through the new Annual Returns process at Charities Commission.  This has been the most significant update to the information required in a number of years and reflects the Commissions aim to increase transparency and accountability.  The most significant changes will occur for the 2018 returns, however some proposals will not become mandatory… Read More

Trustee Safeguarding Responsibilities – Breaking the Myths

Safeguarding has been very topical this year, and has been raised at many client meetings; the interesting thing about this is the number of misconceptions Trustees and Clerks have had about their responsibilities. All Trustees of all charities are accountable and responsible for ensuring that their charity has robust safeguarding practices. Responsibilities are not limited… Read More

Trustee Reports

The last 12 months have been rather interesting in respect of assisting our clients in preparing their statutory accounts. In particular Trustee Reports have become a topic of conversation at the audit planning stage, if not throughout, our involvement. If you look at charity accounts on the Charity Commission website you will see that for most charities they… Read More

Charity Commission Auto-Disqualification Rules – Are you ready?

Effective date: 1 August 2018 Impact: Affects Trustees and Senior Management (previously Trustees only) and extends the reasons a post holder can be disqualified from holding that post. Full Guidance: Click here The key changes to the auto-disqualification rules are: To extend the categories of persons affected to now include both Trustees and Senior Managers… Read More

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