Category: Compliance

PHF Logo

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 […]

Read More
PHF Logo

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 […]

Read More
PHF Logo

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, […]

Read More

MTD update (“Making Tax Digital”)

“Making Tax Digital” – what is it ?… Making Tax Digital is a UK Government initiative that sets out a vision for ‘a transformed tax system and the end of the tax return’ by 2020″.   Here is an updated timetable; How will the initiative be implemented ?. As MTD is rolled out, a number of changes will be implemented. Here […]

Read More
PHF Logo

3 quick items of interest

Just a three quick items of interest if you are self-employed, or are self-assessed taxpayer…. Class 2 NIC’s It was announced in the recent 2016 budget, that Class 2 National Insurance Contributions would be scrapped from April 2018. Yes…you read that correctly !. Currently you are paying £2.80 per week if you earn a PROFIT […]

Read More
PHF Logo

The new PSC Register – is your company &/or company charity prepared ?

Most charity trustees will not be aware of the new Small Business Enterprise and Employment Act 2015 (the ‘Act’) that is part of the Government’s new transparency regime. It adds a new and complex requirement into the Companies Act 2006 for most UK companies (including charitable companies !, and their trading subsidiaries) to create, populate and  maintain a […]

Read More
PHF Logo

OSCR – what is the “targeted regulation” coming soon ?

From 1 April 2016, OSCR will increase the information they make available on the Scottish Charity Register, by starting to publish annual reports and accounts for larger income charities and charities that are Scottish Charitable Incorporated Organisations (SCIOs). The annual return form completed by all charities will see changes in the type of information gathered, while reporting […]

Read More
PHF Logo

Charity finance and reserves policy

The English Charity Commission has published updated finance guidance for trustees, designed to streamline and clarify things. The days of being a “silent Trustee” have long gone. It is expected that Trustees keep themselves informed and updated with developments. We can help you in this regard by keeping in contact with you and your charity, […]

Read More
PHF Logo

15 questions every Trustee should ask

The English Charity Commission have come us with some excellent information in the last few days to help Trustees fulfill their role in a competent manner. Here is a one page infographic on 15 questions that Trustees should ask on a regular basis… 15_questions Here is an expanded version of the above. It goes into greater […]

Read More
PHF Logo

What is a tax return going to look like in 2020 ?

Answer ?…no one knows; not even HMRC I think. In the March 2015 Budget the Chancellor (known as the “Treasurer” in  most countries), raised the issue of the ‘end of the tax return’. The future focus will be on ‘digital tax accounts’, which appear to be a digital portal into HMRC containing all relevant tax details for […]

Read More
1 2 3 4 5