Although charity law varies across the UK, charity governance is very much in the spotlight. In a recent report, the Charity Commission for England and Wales (CCEW) suggested that nearly 40% of small charities were submitting inaccurate financial information. Small charities are defined as those with annual income below £25,000, and this category makes up … Continue reading Spotlight on Charities
HM Revenue and Customs have published a free online guide to help charities complete Gift Aid donation schedules. The step-by-step guide tells charities how to claim back tax on eligible donations, help in choosing the right software, and advice on completing the schedule and filling in the form. This follows on from research last year, … Continue reading HMRC Launch Free Gift Aid Guide
Recent research from HMRC has suggested that small charities and some sports clubs are missing out on £600 million in additional funding, with a third of donations failing to add Gift Aid. Who does Gift Aid apply to? As well as charities, Community Amateur Sports Clubs (CASCs) can also take advantage of the Gift Aid … Continue reading Making the Most of Gift Aid
http://www.youtube.com/watch?v=NUwV2I5HtC8 To find out what other announcements were made in the Chancellor's Budget, read our Budget Summary.
Our updated Tax Tables are available here - find out what the new rates mean for you. If would like to read our summary of the 2015 Budget, then please follow this link: Budget Summary 2015 The main issues include: Farmers averaging - Farmers will be able to average their profits over five years instead of … Continue reading Budget 2015 and 2015/16 Tax Tables