8th September 2008
Idealware, the American nonprofit software site, has a new article giving some tips and tools to process credit card transactions both online and off.
Very little of this is specific to their side of the Atlantic. http://www.idealware.org/articles/fgt_process_credit_cards.php.
Posted in IT, Online, Finance | No Comments »
5th September 2008
The Community Accountancy National Network web site has a new range of basic resources to help smaller third sector organisations with their accounting.
Topics covered include financial controls, cash-flow, budgets and bank reconciliations. See under ‘Guidance’ at http://www.communityaccounting.org for these pdf format documents.
Posted in Community, Rural, Finance | No Comments »
2nd September 2008
Voluntary organisations which can’t recover VAT (in full or part) need to ensure their budgets from April 2009 take into account VAT charged on the whole costs of employing staff via an agency (or other third party).
Currently the tax is (or should be) only charged on the agency’s commission or management fee, not on the salary itself, but this arrangement will cease from 1st April 2009. More details on Sandy Adirondack’s Legal Update at http://www.sandy-a.co.uk/managing.htm#vat-staff.
Posted in Finance, Personnel and Volunteers | No Comments »
29th August 2008
HM Revenue and Customs will be introducing new A4 versions of form P45 in October which can be printed on plain paper. They contain two extra fields for Date of Birth and Gender.
The current versions are to be withdrawn on 5th April 2009. http://www.hmrc.gov.uk/employers-bulletin/bulletin30/paye.htm
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29th August 2008
The revised guidance on the VAT Charity Fundraising Exemption in connection with charity challenge events has already been covered here.
This came into effect from 31st July, but HM Revenue and Customs has now said that it accepts that where contracts were signed or negotiated before then, or the event has been publicised prior to the publication of the new guidance, charities can account for VAT using their previous procedures. http://www.hmrc.gov.uk/briefs/vat/brief3608.htm.
Posted in Funding, Finance | No Comments »
29th August 2008
Following Royal Assent for the legislation, Gift Aid Transitional Relief is now being processed by HM Revenue and Customs on all repayment claims (made from 1st August) for donations received on or after 6th April 2008. http://www.hmrc.gov.uk/charities/transitional-relief.htm. This compensates for the reduction in income tax rates.
Claims made between 6th April and 1st August 2008 will receive backdated transitional relief payments in due course.
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26th August 2008
Sector umbrella NCVO has launched a web page specifically for smaller organisations, bringing together their information on areas such as funding and finance, employment, health and safety, ICT and governance. http://www.ncvo-vol.org.uk/smallorganisations.
Posted in Sector networks, Funding, Management and Admin, Finance | No Comments »
11th August 2008
HM Revenue and Customs has confirmed that the VAT exemption for fundraising activities is likely not to apply when accommodation (e.g. for fundraising holidays, challenge events) is involved.
See Sandy Adirondack’s Legal Update, http://www.sandy-a.co.uk/managing.htm#vat-challenge, or for the full details section 10 (page 32) of the latest Notice 701/1 (pdf, 363KB).
Posted in Funding, Finance | No Comments »
6th August 2008
A decision by a London tax tribunal means that a VAT saving scheme is available to charities when renovating property.
From CFDG’s briefing (at http://www.cfdg.org.uk/cfdg/influencing_taxandvat.asp) “Broadly, the mechanism allows a charity incurring VAT on an asset which is used for both business and non business purposes to recover all of the VAT up front and to make payments back to HMRC over a ten year period based on the element of non business use.”
Or read news item at http://www.cafonline.org/Default.aspx?page=15899.
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29th July 2008
The next version of the Charity Commission’s online Register of Charities, expected to be launched in early autumn, will provide a much greater range of information.
As reported by Charity Finance (http://www.charityfinance.co.uk/home/content.php?id=2100), this includes potentially thorny data on administration costs as a proportion of income, which would be supplied by the charities. More details will follow nearer the time.
Posted in Finance, Legal and Regulatory | 1 Comment »
28th July 2008
The increase in fuel costs has seen Volunteering England’s Information Service getting more enquiries about mileage rates.
The organisation has had discussion with HM Revenue and Customs, who have indicated that that there are no plans to review the agreed tax-free rates at present, but point out an alternative method for calculating costs in reimbursement claims. HMRC has agreed to work with Volunteering England to improve the guidance on this.
Read VE’s statement, or see their information sheet on Volunteer Travel Expenses.
Posted in Finance, Personnel and Volunteers | No Comments »
28th July 2008
CODA 2go, a new ’software as a service’ accounting facility (http://www.coda.com/2go), is to be made available to registered UK charities at no cost for up to four licenses, with additional licenses at reduced rates. Charity Finance news alert reports that only limited facilities are available at present but that this will be expanded over coming months. http://www.charityfinance.co.uk/home/content.php?id=2092.
This joins a report from Third Sector magazine that Microsoft is to develop a version of its Office Accounting Pro program for charities in the UK. The head of citizenship at Microsoft UK says that they are “going to research added features that will offer charities more functionality … looking at having something ready by the end of the calendar year.” The current version is available via Charity Technology Exchange for a £6 admin fee, and this could be a significant development for cash-strapped charities. Third Sector: http://www.thirdsector.co.uk/News/829795/ (registration required)
Together these developments could make a real difference in the level of functionality available at reasonable cost for smaller charities.
Posted in IT, Online, Finance | No Comments »