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COVID-19 and the annual accounts

By Stephen Mathews | 16 September 2020

It is not surprising that given its importance and widespread impact, COVID-19 will feature in church and charity accounts for the foreseeable future. Whilst it is important, we do believe that this issue should not dominate the accounts, and neither should it overshadow the positive work and impact that churches are having in their local communities, perhaps even as a result of the pandemic.

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Account filing and serious incident reporting in light of COVID-19

By Stephen Mathews | 15 September 2020

The Charity Commission has issued a statement which says that during the coronavirus pandemic, it will be as flexible and pragmatic as possible in its approach to regulation. Whilst still asking charities to file accounts on time if at all possible, the Commission has said that where an imminent filing deadline can’t be met they can be contacted with a view to arranging an extension.

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HMRC feedback on common Gift Aid claim errors

By Stephen Mathews | 9 June 2020

Whilst COVID-19 appears not to have significantly slowed the repayment of Gift Aid claims, HMRC has identified some common errors made on claims that do cause processing delays.

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Gift Aid on cancelled events

By Stephen Mathews | 7 June 2020

The Government has agreed to temporarily enable attendees of events that have been cancelled as a result of COVID-19 to be allowed to donate their event ticket price to the hosting charity, under Gift Aid, without the need for the price paid to be refunded to the ticket holder first.

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Making decisions as trustees

By Stephen Mathews | 4 June 2020

We recognise that being a church or charity trustee at the present time is not easy. All the normal rules of operation appear to be removed, and even the simple task of meeting together to discuss issues is not possible. So how do you make biblically based decisions at a time like this?

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Completing the Annual Report and Accounts

By Stephen Mathews | 2 June 2020

If you are in the process of compiling your Annual Report and Accounts (particularly on an accruals basis) then COVID-19 can’t be ignored. This is partly about what is legally required but also about what people want to know. References to COVID-19 will range from the fleeting, through considering possible post balance sheet events, right up to being the cause threatening whether your church or charity can continue.

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Corporate Criminal Offence

By Stephen Mathews | 24 March 2020

2017 saw the introduction of a new Corporate Criminal Offence of “failure to prevent the criminal facilitation of tax evasion”.

It is intended to prevent executives who help others to evade tax hiding behind company protection.

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Converting a Charitable Company into a CIO

By Stephen Mathews | 24 March 2020

Regardless of size, any charitable company is now able to convert into a Charitable Incorporated Organisation (CIO).

Because for a company this is simply a change of structure, the organisation retains its “corporate personality” but is no longer required to follow Company Law regulations. 

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Updates from the Charity Commission

By Stephen Mathews | 30 September 2019

 

The Charity Commission continues to publish inquiry reports where it has investigated weaknesses in charities. Here we highlight just two. The first deals with apparent failures in accountability and financial administration; the second has similar themes also incorporating significant payments in cash and payments made to trustees.

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Charities SORP governance review 2018/19

By Stephen Mathews | 25 September 2019

 

The Charity SORP has been with us for around 35 years, setting out the reporting requirements for charities that report on the accruals basis. In general, it applies to all charities that are structured as companies, all charities with gross income above £250,000 and any other charity that chooses or is required to follow accruals accounting.

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