Gift Aid Claims - use an old R68 Claim Form at your peril!

By Kevin Russell | 1 June 2012 | Comments (9)

In our last Legal Eagle e mail bulletin, we highlighted the need for churches and charities to use the most up to date Gift Aid claim form, the R68(i) in order to ensure that your Gift Aid claim is repaid as quickly as possible.

HMRC have today gone further by announcing that they will no longer accept the older forms that some charities are still using.

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VAT on repairs and alterations to listed buildings

By Kevin Russell | 23 May 2012 | Comments (4)

Budget 2012 announced a proposal to remove VAT Zero Rating from approved alterations to listed buildings, many of which are churches. The main target of this measure must be people that live in homes that are also listed buildings who, for example, install a swimming pool in their home and have the work zero rated purely because their house is listed.

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new inheritance tax charity relief

By Kevin Russell | 23 May 2012 | Comments (2)

A reminder that the new reduced rate of Inheritance Tax is now in force. It applies to deaths occurring after 5 April 2012. Where more than 10% of the net estate is given to charity, the rate of tax applying to the rest of the estate is reduced from 40% to 36%. Charitable gifts are of course tax exempt.

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the Scotland Act

By Kevin Russell | 23 May 2012

The Scotland Act 2012 received Royal Assent on 1 May 2012.The Act gives the Scottish Parliament the power to set a Scottish rate of income tax to be administered by HMRC. Applying to the non savings income of Scottish taxpayers and expected to be implemented from April 2016, it provides for a number of taxes to be devolved to Scotland, including land taxes.

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welcome to the generosity party

By Alexandra Khan | 23 May 2012 | Comments (2)

This weekend will see the nation come together to celebrate the Queen’s Diamond Jubilee. Street parties and Big Lunches will be a great opportunity to talk to strangers, share food and spend time together. It got me thinking about the link between celebrations and generosity and reminded me that, in the Bible, the two were nearly always connected.

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what's in a trustee?

By Stephen Mathews | 21 May 2012

The role of trustee requires someone who is mature, responsible, trustworthy and  has the spiritual interests of the church at heart. Often, church trustees tend not to be self-publicists and so could be very ‘low profile’. They are, however, a body of people with legal authority and so everybody should know who they are – look on your charity’s entry on the Register of charities at www.charity-commission.gov.uk  for some of the answers!

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fraud - it couldn't really happen here, could it?

By Stephen Mathews | 21 May 2012

Trustees have a responsibility to understand, manage and control the financial activities of their charities.  It is all too easy to think that financial loss happens to someone else, not to you: “it really couldn’t happen here”. Yet you can still find yourself facing an unwanted financial situation as events unfold around you.  This was the case with a church recently who, for the lack of some basic controls, found themselves facing a £10,000 loss, the danger of unwanted publicity, and a pastoral issue thrown in for good measure.

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who says I'm not fit and proper?

By Stephen Mathews | 21 May 2012

The Finance Act 2010 introduced a requirement that, to qualify as a charity for tax purposes, the charity must meet a ‘management condition’. This condition is satisfied if  all of the charity’s ‘managers’ are ‘fit and proper persons’.  If a charity fails this test then HMRC can refuse or cancel its ‘tax status’; meaning that it will no longer be eligible for charity tax benefits such as Gift Aid.

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generosity and Jubilee

By Joanne Cox | 27 April 2012

Give thanks in all circumstances; for this is God’s will for you in Christ Jesus.’ (1 Thessalonians 5:18). 

 

I have been fortunate enough to have grown up in a world where the American festival of Thanksgiving has grown in popularity (in no small part due to the TV sitcom ‘Friends’ and their almost routine annual Thanksgiving catastrophes!).  Thus, for me, thankfulness, Thanksgiving and generosity all become associated with the smell of cinnamon spice, pumpkin pie and the clamour of dozens of people crowding into my house on cold wintery nights.

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