Category: Compliance

Charities and trading...not as easy it looks!

Churches and trading

What activities do you church trustees consider a trade? What income types of trading are thereexemptions available? There are two key issues to be addressed; 1. whether the activity is an activity of the church or 2. some other organisation however informally established. A good rule of thumb is that if the activity is under […]

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Data protection for payroll (GDPR)

GDPR or data protection laws starting 25th May 2018 for payroll will change communication between employers and employees. This will apply to all businesses – no matter how big or small as follows; You can’t do this anymore; – Send/receive emails to/from staff about matters to do with them personally – Staff to email you […]

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Are you ready for the increase in pension rates ?

From the 6th April 2018, auto enrolment pension rates are going to increase. It’s important that you’re ready for these contribution increases so that the correct amounts are deducted from your payroll at the right time if you are employer. If you are an employee, you will be paying higher contributions so you need to […]

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New Scottish tax & marriage allowance.

By 67 votes to 50, Holyrood (Scottish Parliament) has a new income tax regime. It is more complicated than the rest of the UK in that it has four extra rates and three new thresholds. (SRIT = “Scottish Rate of Income Tax”) On closer examination, there is one of the minor unintended consequences. Marriage Allowance. […]

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HMRC vs BBC in IR35 case…ouch ! (this is about contractors with companies)

HMRC has defeated Christa Ackroyd, a BBC presenter in the first IR35 ruling since 2011. The tribunal ruled the TV personality’s contract was caught by IR35 and landed her company with a £420,000 bill! This judgment is the first of a number of IR35 appeals involving television presenters who operated through personal service companies, following […]

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What is “Making Tax Digital”?

What is “Making Tax Digital”? Making Tax Digital (MTD) is a government initiative to modernise HMRC’s tax system, with the aim of making the whole process of administrating tax simpler and more efficient. All of your tax information will be in one place (your digital account) and you will be able to pay tax based […]

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Automatic enrolment doesn’t end with a declaration of compliance

So, you’ve assessed your staff, put them into a workplace pension, and declared your compliance. But automatic enrolment (AE) doesn’t end there, and neither does your responsibilities. There are still legal duties that need to be completed – automatic enrolment is an ongoing responsibility even after the declaration. Every time your run their payroll, their […]

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Declaration of dividends – what paperwork ?

When you pay yourself a dividend from your company, make sure you; 1. Prepare minutes. This must be completed at each dividend payment. It is the board declaring the dividend. You can pay yourself a dividend as many times as you like during the year. 2. Complete the “Tax voucher”. Don’t be put off by […]

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Charity Investment Policy

Charity Trustees should have an investment policy. Here is a free guide for you to download. Here are some tips; – the investment policy is set down in writing for the financial expert or experts by the Management Trustees; – every transaction is reported promptly to the Management Trustees; – the performance of the investments […]

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Trustee’s Week 2016 – some contemporary issues.

Yesterday, we attended a semnar at Dunfermline in Fife, dedicated to Charity Trustees. This was an excellent day hosted by various bodies including OSCR (Office of the Scottish Charity Regulator) who invited others such as HMRC. Here are some contemporary governnce issues raised… – Charity trustees must keep constitution reviewed and up to date, reviewing reviewing, […]

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