Charities Briefing September 2015 In this issue The Summer Budget for charities We summarise the key announcements likely to impact charities and not-for- profit organisations – page 1 Changes to the SORP Nigel Davies of the Charities SORP Committee writes about the significance of the latest SORP consultation. Your views count – page 2 Top tips for treasurers We set out some key tips for those who are new to the role of treasurer, or those considering the post – page 3
Transcript
CharitiesBriefing
September 2015
In this issueThe Summer Budget for charitiesWe summarise the key announcements likely to impact charities and not-for-profit organisations – page 1
Changes to the SORPNigel Davies of the Charities SORP Committee writes about the significance of the latest SORP consultation. Your views count – page 2
Top tips for treasurersWe set out some key tips for those who are new to the role of treasurer, or those considering the post – page 3
for charitiesThe UK’s Summer Budget contained few items that related specifically to charities but there were a number of items of interest.
From an employment taxes perspective, there will be an increase in the employment allowance (a relief from employers’ National Insurance contributions) from £2,000 to £3,000 from April 2016 to support small businesses and charities to create jobs. The government will also consult on improvements to the effectiveness of IR35 and the use of intermediary companies and this may have an impact on charities that engage people who have their own companies.
The statutory exemption for trivial benefits in kind of less than £50 will take effect from April 2016 and there will be consultation on the simplification of tax and National Insurance on termination payments and travel and subsistence payments.
Many charities will be interested in how the proposed National Living Wage will affect their payroll costs and whether it is a cost that they can afford.
Changes to business taxes that may affect charities include the proposed reduction in corporation tax rates from 20% to 19% in 2017 and 18% in 2020. This will benefit those charity companies that have non-exempt income or trading subsidiaries that are unable to Gift Aid all their taxable profits.
The Annual Investment Allowance that provides capital allowances at the rate of 100% will be fixed at £200,000 and this may be of benefit to trading subsidiaries of charities, as the AIA may reduce the amount of profits that need to be distributed to the parent charity to eliminate a corporation tax liability in the subsidiary, although the overall benefit to the charity sector as a whole is likely to be modest.
The consultation on the review of business rates will be of special interest given the significant financial benefit to charities of business rates relief. The reform is intended to be fiscally neutral but anything that reduces the value of the relief will be of concern.
Charities will also be affected by the increase in Insurance Premium Tax that will go up from 6% to 9.5% from 1 November.
The Chancellor also listed some of the military charities and other good causes that received a share of £70 million of fines imposed on the banking industry.
Our full briefing on the Summer Budget can be accessed at www.saffery.com.
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Charities Briefing
Changes to the SORP and the implications
for your charityFor financial years beginning on or after 1 January 2015 we say goodbye to SORP 2005 and your charity now has to choose which of the two new SORPs to follow. Nigel Davies, Joint Chair of the Charities SORP Committee, writes about the latest SORP consultation:
At the time the two new SORPs were published in July 2014 we did not know how soon the Financial Reporting Council would be making further changes to UK Generally Accepted Accounting Practice (GAAP). Change is coming sooner than we hoped and that is what the new SORP consultation is all about.
If you are unfamiliar with the two new SORPs, the new SORPs, model examples and help-sheets are all available to help you. These are free of charge as downloads from the charity SORP micro-site: www.charitysorp.org.
Further change is coming (from 2016) due to the implementation of a new EU Accounting Directive that is requiring changes to GAAP for reporting periods (financial years) beginning on or after 1 January 2016. In response to these changes, announced by the FRC in July 2015, the Charity Commission and the Office of the Scottish Charity Regulator, as the joint SORP-making body, have set out proposals for changing the SORP framework. Together with the charities SORP Committee, we intend to aid the sector in navigating these coming changes but we need your views on the approach we have taken.
The latest SORP consultation opened on 18 June and closes on 18 September. The timetable is tight as the changes to GAAP take effect for financial years beginning on or after 1 January 2016. The consultation papers can be found on the charity SORP micro-site: www.charitysorp.org.
The changes fall into two groups: the implications of the Financial Reporting Standard for Smaller Entities (FRSSE), which is being withdrawn from 2016; and amendments to the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Although these might at first appear technical matters, trustees and practitioners preparing the accounts should be aware of how the changes will affect your charity and in this your independent examiner or auditor may be able to assist you.
The changes due to withdrawal of the FRSSE are as follows:
y With the FRSSE being withdrawn for financial years beginning on or after 1 January 2016, we need a replacement solution for the Charities SORP (FRSSE). Our proposals are set out in Invitation to comment: Withdrawal of the Charities SORP (FRSSE) and proposals to widen the scope of Charities SORP (FRS 102). We are proposing that all charities move to a single SORP for financial years beginning on or after 1 January 2016, with only larger charities (see below) required to prepare a Statement of Cash flows.
y In considering the replacement to the Charities SORP (FRSSE) we did explore a separate ‘small entity SORP’, but in our view the requirement to prepare ‘true and fair’ accounts means that the new section 1A small entities option in FRS 102 affords no practical advantage. We therefore propose to disapply that
option and instead require all charities to follow the amended Charities SORP (FRS 102) for financial years beginning on or after 1 January 2016.
Changes due to amendments to FRS 102:
y How the detailed changes to the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) are reflected in the Charities SORP (FRS 102). The detailed proposals are set out in Draft Update Bulletin 1 and the questions where we need your views are set out in Invitation to comment: Draft Update Bulletin 1.
y A revised definition of ‘larger charity’. This change is needed to ensure that the definition of larger charity is the same across the UK. The proposal is to set this at £500,000 gross income. A Statement of Cash Flows would only be required of larger charities. More disclosures are required of larger charities in the trustees’ annual report and larger charities must use an activity basis in the Statement of Financial Activities. The detailed proposals are set out in Draft Update Bulletin 1 and the questions where we need your views are set out in Invitation to comment: Draft Update Bulletin 1.
Your views will count, so please find time to take part. All being well, we expect the amendments to Charities SORP (FRS 102) to be published in February/March 2016.
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September 2015
Top tips
for treasurersTaking on the role of treasurer can seem like a great way of giving your time to support a charitable organisation that you believe in. However, the definition of the role and the expectations placed on individuals varies greatly from charity to charity, and many treasurers are not qualified accountants. Here are some handy hints for those thinking of volunteering for this role.
1. Define the role
It’s important to understand exactly what is expected of you. This may be partly down to custom and practice but will also require a deeper understanding of the charity, its constitution and operations. Be clear about the line between governance and management; if you think your role is being defined in a way that crosses that line you must question it at the outset. Be careful that others aren’t assuming more experience than you’ve got.
2. Encourage your fellow trustees
It’s easy for the treasurer’s role to be attached to everything financial, but don’t be left doing it all. It’s only fair to ask your fellow trustees to help out when appropriate. Just because you’re the treasurer doesn’t mean you have to be solely responsible for counting cash after an event. You may chair the finance committee but establish how people can offer support to you.
3. Are you part of the control system?
In a smaller organisation the treasurer is often called upon to form part of the system of internal financial controls. Unfortunately, this can be where things go wrong. If you are being asked to sign things, do you have clear sight of the document and know what you’re signing? More importantly, have you assumed a role of internal review – do people assume that you’re reviewing accounts? If this is the case, you need to be very clear about the responsibility you’re taking on and keep a clear record of what you’ve reviewed and at what level.
4. Agree a timetable
Things go wrong when trustees don’t have time to review information and properly prepare for meetings. Dates and times of meetings need to work for everyone. Getting information in sufficient time also allows you to ask the pertinent questions and seek extra support if you need it.
5. Meet with the team
In most charities, to understand the finances you need to talk to a number of people. Fundraisers, senior management and HR may all have a role to play. However, don’t get in the way of people doing their job. The role of the staff you appoint isn’t solely to give you answers.
6. Understand risk
Carrying out your role needs a clear understanding of the risk appetite of the charity. You may be asked to assess reports, controls, choose advisers and review budgets. To perform each of these functions effectively, risk must be a consideration. There is no such thing as the perfect system of control. Your role will be to present cost-efficient solutions to the charity’s problems and to do that you will need to know what risk people might be prepared to take.
7. Don’t take no for an answer
Sometimes a treasurer will be told that everything’s fine and under control – trust your gut. There was a reason you asked the question and it’s your right to make sure you get an answer. It might not be
immediate, but you should never back off if you feel something is wrong. You can agree a timeframe to get an answer but if the same question comes up again, then it’s worth considering why.
8. Value the words “what if?”
The words “what if?” are a key part of the treasurer vocabulary. Look for the alternatives and ask questions such as: If we don’t need it now, when will it need doing? Part of the role of the trustee is to think about future, as well as current, beneficiaries. Consider how decisions will impact the organisation in the medium to long-term.
9. Establish a link with the auditor/independent examiner
A clear line of communication will give both parties the opportunity to ensure any concerns can be discussed freely and confidentially. Don’t be afraid to ask for clarification of any points the auditor makes. Consider if the format of their reports helps you understand their work and the accounts.
10. Enjoy it
Being a charity trustee is a hugely rewarding experience. Whatever charity you support you will get as much out of the experience as you put in. There are numerous training courses available, but there is no substitution for the practical experience of attending meetings and getting involved.
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Charities Briefing
A Gift Aid
call to arms?HM Revenue & Customs (HMRC) has issued a call for evidence relating to the Gift Aid donor benefit rules with a view to publishing a consultation document later in the year on simplifying the rules. The government is interested in understanding how the current rules are understood and applied, what, if any, barriers and problems they present for the charities sector, and how they might be improved. The deadline for responses is 9 October 2015.
In advance of the consultation, this article considers how the rules currently operate.
Donor benefits are an important way to show appreciation of donors’ support and help build and sustain the relationship between a charity and its supporters. They can also be used to attract new supporters. However, the impact of donor benefits on the availability of Gift Aid must not be overlooked. If the rules are not met, the 25% Gift Aid repayment a charity might expect will be lost.
Monetary limits on benefits
Gift Aid can be claimed on donations from individuals if the value of any benefits provided to the donor or a person connected with the donor, as a consequence of the donation, do not exceed certain limits, as follows:
Donation Maximum value of benefit
Up to £100 25% of the donation
£101 to £1,000 £25
Over £1,0005% of the donation
(up to £2,500)
Who is a connected person?
A ‘connected person’ is a wife, husband or civil partner; relatives who are a brother, sister, parent (or other ancestor), child (or other lineal descendant); the wife, husband or civil
partner of such relatives; or a company under the control of the donor, or under control of connected persons.
How to value benefits
The value of a benefit is currently based on the value to the recipient rather than the cost to the charity. This means that even if a charity provides a benefit that it receives for free or obtains for a reduced price, its value will be based on its retail value or, where there is not a retail value, the amount that someone would be prepared to pay for a similar item or service. This often presents charities with practical problems on how to value benefits. We have seen HMRC take the view that where a benefit cannot be valued it will prevent Gift Aid being claimed.
HMRC currently allows the cost of a benefit – such as attendance at a gala or dinner or discounts on events or merchandise – to be averaged over the number of donors attending the event or eligible for the discounts.
It also applies a ‘split payment rule’ under which a donation can be split between a payment for benefits received and a donation to the charity, which allows the donation part to qualify for Gift Aid where the value of the benefits would otherwise breach the monetary limits. The rule can only apply where the charity can establish the market value of the benefits and the product or service provided is available for sale separately and is offered to the general public.
A similar principle applies to charity auctions where supporters may well intend to overbid for an item. If the item is commercially available and its retail price is made known in advance, amounts bid over that price can be treated as Gift Aid donations.
Some ‘benefits’ have a nil value
Certain benefits are regarded as having a nil value for Gift Aid purposes even though they may be perceived by supporters to have a value and are highly regarded.
Such nil value benefits include the provision of literature that is produced solely for the purpose of describing the work of the charity and is relevant to and distributed exclusively in furtherance of the objects of the charity. This can include newsletters, bulletins, annual reports, journals, magazines, members’ handbooks and programmes of events in either print or electronic formats. The fact that the literature has a cover price and is also on sale to the public is not relevant and does not prevent Gift Aid being available.
A simple acknowledgment of a donor’s generosity, whether by way of printed acknowledgement or a small plaque naming a building or part of a building after a donor, are not considered donor benefits. Nor are fundraising events held in honour of a donor, provided the purpose of the event is to celebrate the donation and promote the charity in the interests of stimulating more donations from people attending the event.
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September 2015
A right of admission to view charity property is not treated as a benefit if it is in return for a donation of at least 10% more than the ordinary admission charge or is an annual right of admission.
Payments to attend events do not qualify for Gift Aid
Charities often invite supporters to make suggested donations to attend events, where admission is either free or set at a fixed amount. Gift Aid can be claimed on the suggested donation but the same right of admission has to be given whether or not people pay it, which leaves the charity dependent on the goodwill of attendees to pay the extra amount.
The relevant and aggregate value tests
Benefits must satisfy both the relevant value test and the aggregate value test. Under the latter test, the aggregate value of benefits received in consequence of a donation, plus the value of any benefits received on Gift Aid donations by the same donor to the same charity earlier in the same tax year, must not exceed £2,500. The interaction between these tests is best illustrated by the example in Figure 1 showing six donations of varying amounts received by a charity from one individual.
Gift Aid will be available on the first three donations because the value of the benefits is nil. The fourth donation will not qualify because the relevant value test is failed: the benefit is £30 which is more than 25% of the donation.
Gift Aid is available on the fifth donation because the value of the benefit at £450 is less than the relevant value limit of £480 and the aggregate value is £450 (the £20 benefit provided for the fourth donation is excluded from the aggregate value test because that donation did not qualify for Gift Aid). The final donation meets the relevant value test but the aggregate value test is failed because the aggregate value exceeds £2,500. There is no impact on the five earlier donations.
The effect of this failure is that the charity loses a potential Gift Aid repayment of £12,500 and a donor who is a higher or additional rate taxpayer will lose personal tax relief of £12,500 or £15,625 respectively.
Record keeping
Charities will be aware that Gift Aid cannot be claimed if a valid Gift Aid declaration has not been made by the donor and of the importance of retaining the declarations and an audit trail of donations received. They must also keep a record of donor benefits to show what benefits have been provided and how they have been valued. The record of donor benefits is something that HMRC will ask for as part of a Gift Aid audit.
The government’s commitment
The call for evidence is stated to be a contribution to the government’s simplification objective and to its commitment to maximise the amount of Gift Aid on eligible donations. It is hoped, therefore, that there will be some useful simplification of the donor benefit rules and no adverse impact on the ability to claim Gift Aid arising from any legislation that follows the consultation.
Figure 1
Donation Value of benefit Relevant value limit Aggregate value
£30 nil n/a nil
£10 nil n/a nil
£25 nil n/a nil
£80 £30 £20Fails relevant value
so excluded
£9,600 £450 £480 £450
£50,000 £2,500 £2,500 £2,950
Charities will be aware that Gift Aid cannot be claimed if a valid Gift Aid declaration has not been made by the donor and of the importance of retaining the declarations.
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Charities Briefing
The Charity Commission has launched a new version of its guidance entitled The essential trustee (CC3). The guidance has been completely rewritten and clarifies what a trustee’s responsibilities are and what the Charity Commission expects.
The guidance places new emphasis on what trustees ‘must’ do and also what they ‘should’ do in order to fulfil their statutory duties. The ‘musts’ reflect legal or regulatory requirements or duties and the ‘shoulds’ reflect things that are good practice, which the commission expects trustees to follow and apply to their charity.
It is important that trustees consider the revised guidance carefully. In the commission’s view:
“This isn’t just about keeping in the commission’s good books. It is essential if you want to be more effective at meeting your beneficiaries’ needs, and enhance your credibility with potential funders, supporters and the wider public.”
However, it also explains that:
“In some cases you will be unable to comply with your legal duties if you don’t follow the good practice…[but]when the commission looks into cases of potential breach of trust or duty or other misconduct or mismanagement, it may take account of evidence that trustees have exposed the charity, its assets or its beneficiaries to harm or undue risk by not following good practice.”
We have summarised (right) two particularly useful elements of the guidance. The first provides an overview of a trustee’s duties and what they must and should do. The second is a summary of top tips included by the commission on avoiding common pitfalls.
Changes to the Charity Commission’s
trustee guidance
Trustees’ duties at a glance
To do this you:
Make sure you are eligible to be a charity trustee
Must be 16 and be properly appointed; and
Must not be disqualified under the Charities Act.
Ensure your charity is carrying out its purposes for the public benefit
Should ensure that you understand the charity’s purposes as set out in the governing document; should plan what your charity will do and what you want it to achieve; should be able to explain how all of the charity’s activities are intended to further or support its purposes; should understand how the charity benefits the public by carrying out its purposes.
Comply with your charity’s governing document and the law
Must make sure the charity complies with its governing document, charity law requirements and other laws that apply to your charity.
Should take reasonable steps to find out about legal requirements.
Act in your charity’s best interests
Must do what you and your co-trustees decide will best enable the charity to carry out its purposes; must make balanced and adequately informed decisions, thinking about the long-term as well as the short-term; must avoid conflicts of interest; must not receive any unauthorised benefit from the charity.
Manage your charity’s resources responsibly
Must make sure that the charity’s assets are only used to support or carry out its purposes; must avoid exposing the charity’s assets, beneficiaries or reputation to undue risk; must not overcommit the charity; must take special care when investing or borrowing; must comply with restrictions on spending funds or selling land.
Should put in place appropriate procedures and safeguards and take reasonable steps to ensure that the above are followed.
Act with reasonable care and skill
Must use reasonable care and skill.
Should give enough time, thought and energy to your role.
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September 2015
Pitfalls to avoidwhen appointing trustees
Following changes to the Charity Commission’s trustee guidance, we outline some of the commission’s tips for those appointing new trustees.
Make sure trustee appointments are valid
Be careful to follow the rules in your charity’s governing document and the law when appointing trustees.
Know your governing document
If the trustees don’t comply with the governing document, actions and decisions could be invalid and have to be reversed as a result.
Be prepared to challenge assumptions
Part of a trustee’s role is to critically and objectively review proposals and challenge assumptions in making decisions. No one should be able to direct the trustees or drive decisions through without sufficient
consideration. Trustees who simply defer to the opinions and decisions of others aren’t fulfilling their duties.
Deal with conflicts of interest
Conflicts of interest (and conflicts of loyalty) are more common than people often think. Where conflicts of interest have not been identified or properly dealt with, it can have negative impacts on both the charity and individual trustees, including financial cost and reputational damage.
Don’t rely too much on individuals
Implement sufficient safeguards to ensure accountability and to mitigate risks like fraud or theft or abuse of beneficiaries.
Ask questions (even ones that seem awkward or stupid)
Part of the role of a trustee is to hold people (including staff, volunteers and fellow trustees) to account for how they carry out their role or use the charity’s resources. This can mean asking probing or challenging questions about information at trustee meetings, or being prepared to say ‘I don’t understand what this means’. You should receive timely information in a format that you can understand and use, and if necessary ask for explanations, training or information in a different presentation.
We recommend reading the full guidance for a more in-depth understanding of a trustee’s responsibilities and what the commission expects: www.gov.uk/government/publications/the-essential-trustee-what-you-need-to-know-cc3.
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Charities Briefing
1 April 2015 was an important turning point for some charitable organisations’ VAT position, as HM Revenue & Customs (HMRC) introduced a VAT refund scheme for UK search and rescue organisations.
As you will be aware, in the UK, the fundamental principle behind the ability to recover VAT depends on the making of taxable supplies. However, HMRC has the discretion to allow certain bodies to recover VAT in undertaking their non-business activities.
Previous refund schemes have allowed local authorities to recover VAT and more recently HMRC has allowed the recovery of VAT for Academies in the UK.
Search and rescue charities
The introduction of the relief for UK search and rescue charities applies to those charities whose main purpose is to search for and rescue people at risk of death or serious injury, or charities whose main purpose is to support, develop and promote the activities of charities established to search for and rescue people, as well as air ambulance charities.
Emergency services already benefit from receiving a refund on the VAT they incur in relation to their statutory non-business activities. Search and rescue charities, such as the RNLI or mountain rescue, participate in co-ordinated search and rescue operations alongside government agencies and so taking away the VAT burden makes a more efficient and effective service. Air ambulance charities will also get this relief for the same reason.
Darren Spivey, Head of Corporate Reporting at the RNLI commented: “ This relief will save the RNLI around £2.5 million per annum and help create a seamless emergency service, where both charities and the government work hand in glove to save lives”.
Hospices
NHS bodies which provided similar care to hospices receive relief from their VAT costs, but there was previously no corresponding relief for hospices in the charity sector. As a result of the introduction of the new refund scheme, it is expected that about 200 independent hospices in the UK will benefit.
HMRC regards the provision of care by hospices as being a non-business activity for VAT purposes where the cost is met from voluntary donations and public funding rather than from fees charged.
Some hospices will need to consider how they are funded in order to make sure that they can qualify for the new relief.
HMRC has accepted that hospices receiving core NHS England funding (being concerned with ‘general outcomes’ rather than specified treatments for particular individuals) could still qualify for VAT relief. This position was also accepted for Wales and Scotland.
However, it was recently decided that funding under a continuing care agreement
is payment for a business supply. This will potentially cause some problems with the refund scheme, as an apportionment of costs will need to be agreed with HMRC based on the hospice providing specific services for individuals.
The rationale for the introduction of these refund schemes is largely based on addressing anomalies between the VAT treatment of government funded organisations and volunteer organisations.
We do not expect there to be a universal VAT credit made available to charities – this was famously termed as “unacceptable public expenditure” by a former Chancellor, however the recent changes may be an indication of opportunities in the future for certain types of charities to benefit from very specific refund schemes.
Charities operating in these areas should consider their VAT recovery positions, in particular considering whether their general overhead recovery method remains appropriate given the change in recovery basis.
VAT refundsfor search and rescue charities and air ambulances
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September 2015
In brief
Charities (Protection and Social Investment) Bill
The Charities (Protection and Social Investment) Bill is currently going through Parliament. It will affect three key areas:
1. The Charity Commission’s powers
The bill gives the Charity Commission new powers to enable it to deal swiftly and effectively with serious problems in charities. These include:
y Power to disqualify an “unfit” person (not defined) from being a trustee or member of a charity’s senior management;
y Power to remove trustees who have been disqualified or following the opening of a statutory inquiry;
y Power to issue official warnings to charities or their trustees;
y Power to direct a charity that is subject to inquiry not to take certain actions that would constitute misconduct or mismanagement in the administration of the charity; and
y Power to direct trustees to wind up a charity in certain circumstances.
2. Social investment
The bill will give charity trustees an explicit power to make social investments, but requires them, when making such investments to:
y Consider whether advice should be sought and give consideration to any advice that has been obtained;
y Satisfy themselves that it is in the interests of the charity to make the investment; and
y Review the investment from time-to-time.
3. Fundraising regulations
The bill seeks to address the negative press regarding some fundraising methods employed by charities, by requiring that:
y All new contracts between charities and fundraising agencies to state how the vulnerable are protected; and
y Charities with annual income of more than £1 million will be required to publish details of their fundraising activities in their annual reports, including how many complaints they have received.
Potential VAT refunds on investment management fees
The University of Cambridge has won an appeal for the right to deduct input tax on investment managers’ fees. The University argued that investment management fees relate to generating funds for supporting the University’s economic activity as a whole and as such VAT is reclaimable to the extent that the charity’s activities generate VATable income.
The decision provides an opportunity for other charities to submit VAT claims for input tax previously not claimed on raising unrestricted income not only from investments but other voluntary sources of income where they have not done so previously.
The Charity Commission’s strategic plan for 2015-18
The Charity Commission has released its strategic plan for the next three years. The plan focuses on four strategic priorities:
y Protecting charities from abuse or mismanagement;
y Enabling trustees to run their charities effectively;
y Encouraging greater transparency and accountability by charities; and
y Operating as an efficient, expert regulator with sustainable funding.
Further details can be found at: www.gov.uk/government/publications/charity-commission-strategic-plan-2015-18.
Rise in the number of serious incidents
The Charity Commission’s annual report shows that it received 2,129 reports of serious incidents in 2014-15, up from 1,280 in the previous year. The Commission has explained that it believes this is a result of its “concerted campaign to promote awareness among trustees of their responsibility to report serious incidents”.
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Forthcoming
eventsBelow is a list of the forthcoming events that we are taking part in or hosting across the UK in the coming months:
14 September: Back to School Academies SeminarIn Harrogate we are holding an update for the academies sector on 14 September from 3.00pm to 5.15pm, covering:• Regulatory and financial reporting• Employment taxes update• Case study: life in a growing academy trust
For further information or if you would like to attend, please contact Louise Wilson, E: [email protected].
8 October: Charity Finance SummitMark McGarry and Alison Hone from our Not-for-Profit Group will be speaking at the Charity Finance Summit in London. Alison will be running a workshop on the VAT considerations for fundraising activities and Mark will be discussing direct tax and property transactions.
To book your place, contact Civil Society on T: +44 (0)20 7819 1208.
1 December: Charity SeminarIn London we are holding a general charity update seminar on 1 December, from 4.00pm to 6.00pm. Nigel Davies of the Charity Commission will be discussing the new Charities SORP and iXBRL for charities. The event will also cover:• A VAT Update• An update on direct tax, including Gift Aid
For further information or if you would like to attend, please contact Marie-Louise Reynolds, E: [email protected] or T: +44 (0)20 7841 4096.
