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Charities and VAT

Charities and VAT

CHARITIES AND VAT It is wrong to assume that Charities get special VAT treatment, however they do benefit from VAT relief on the purchase of some goods and services. They can also get a VAT exemption on income from fundraising events as long as certain conditions are...

Hawsons makes history after 165 years in business

Hawsons Chartered Accountants is 165 years old  Hawsons Chartered Accountants was founded in the city of Sheffield in 1854 – more than 25 years before the creation of the Institute of Chartered Accountants in England and Wales – by Alfred Allott and John Hewett....

The Election Result: What are the tax implications?

The Election Result: What are the tax implications?

Tax implications of the Election Result The general election has ended and the Conservatives have secured a large majority winning 365 seats. What does this mean for tax?  How will the election result affect you or your business? Tax expert Craig Walker provides a...

Charity Tax group launch a national survey on charity VAT relief

Charity Tax group launch a national survey on charity VAT relief

Charity Tax group launch a national survey on charity VAT relief The Charity Tax Group are launching a national survey on charity VAT relief. The group say the research will gather information on the amount of VAT relief claimed by UK charities, which they say will...

new anti-money laundering regulations set to hit many charities

new anti-money laundering regulations set to hit many charities

New anti-money laundering regulations set to hit many charities It has been reported that a large number of charities could face administrative bureaucracy from the government as they bring in new anti-money laundering regulations. The Fifth Money Laundering Directive...

Charity tax improvements might unlock more people giving to charity

Charity tax improvements might unlock more people giving to charity

Charity tax improvements might unlock more people giving to charity According to a new report from the Charity Tax Commission led by the former chairman of the Inland Revenue (Sir Nicholas Montagu), tax reliefs offered to UK charities are in urgent need of an...

Charities warned to prepare for no-deal Brexit

Charities warned to prepare for no-deal Brexit

Charities warned to prepare for no-deal Brexit The National Council for Voluntary Organisations (NVCO) are urging the new minister for civil society to make sure charities are not ignored and receive the funding they need to prepare for a no-deal Brexit. After the...

Charities Aid Foundation gave £646m to charities in 2018/19

Charities Aid Foundation gave £646m to charities in 2018/19

Charities Aid Foundation gave a record £646m to charities in 2018/19 The latest figures show that the Charities Aid Foundation (CAF) gave £141m more to charities than last year, a 25% increase from 2017/18. Donations in the American Donor fund increased by 23% to...

Charity Trustees Time Off for Duties Bill

Charity Trustees Time Off for Duties Bill

The Charity Trustees (Time Off for Duties) Bill 2017-2019 was introduced to parliament in March. This bill will allow charity trustees to take reasonable time off from their jobs to carry out the duties required of being a charity trustee. Under the existing law,...

Charity sector is ill prepared for a no-deal Brexit

Charity sector is ill prepared for a no-deal Brexit

A survey conducted by the Charity Finance Group (CFG) has highlighted that Charities are ill prepared for the possibility of there being a no-deal Brexit. The UK is currently due to exit the European Union on 29 March 2019, however more than a third of respondents to...

£560 million of Gift Aid goes unclaimed every year

£560 million of Gift Aid goes unclaimed every year

Research from HMRC has shown that, due to a lack of awareness surrounding the scheme, charities are missing out on £560 million of Gift Aid every year. Gift aid allows charities to claim an extra 25p for every £1 that is donated to them by eligible UK tax...

Tax Rates 2018/2019

Tax Rates 2018/2019

Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used.   The cost of...

Employing the Millennial generation

Employing the Millennial generation

Employing the Millennial generation  They appear to be gaining a notorious reputation for being flighty, demanding and difficult in the workplace. How accurate is this reputation of the millennial, and how do employers retain this “problem” generation? Millennials...

Could a Charity merger be the answer for saving your charity?

Could a Charity merger be the answer for saving your charity?

Despite evidence that a merger can have a wide range of benefits in the not-for-profit sector, it seems to be an option that charities are shying away from. There are 167,000 registered charities in England and Wales – and this figure doesn’t include...

Trustees…Be Warned! New Charity Commission warnings

Trustees…Be Warned! New Charity Commission warnings

The Charity Commission used newly granted powers for the first time in mid-August to issue an official warning to the Trustees of a national charity. The matters picked up on by the Commission in their warning to the National Hereditary Breast Cancer...

VAT can be Charitable – here’s how your charity can save on VAT

VAT can be Charitable – here’s how your charity can save on VAT

Charities have always had challenges with Value Added Tax. There are, however, concessions available to charities which mean that some goods/services are not subjected to VAT, or are subjected to the lower rate of 5%. VAT Can be charitable. 1. Rent - If a...

Input Tax – Beware of the pitfalls!

Input Tax – Beware of the pitfalls!

VAT expert Tony Nickson outlines the pitfalls to avoid when reclaiming input VAT. 1. Reclaims for purchases made before VAT registration It is important to ensure that the maximum amount of input VAT is reclaimed on your business expenditure. This includes input tax...

Staff from Hawsons Endeavour to help!

Staff from Hawsons Endeavour to help!

Staff from Hawsons Endeavor to help! On Friday 16 June, Hawsons staff enjoyed a day out helping the Sheffield based charity, Endeavour, by carrying out various tasks such as gardening, cleaning, stripping paint and even dismantling a canoe rack. Endeavour have been...

What charities need to know about the new GDPR

What charities need to know about the new GDPR

The General Data Protection Regulation (GDPR) is set to come into force from in May 2018. It will replace the current Data Protection Act and is the biggest overhaul of data protection legislation for over 25 years. GDPR will change the way organisations process...

The Election result: What are the tax implications?

The Election result: What are the tax implications?

The Election result: What are the tax implications? The general election has ended in a hung parliament – the Conservative party have the most seats but do not have an overall majority. Theresa May has announced that she will form a government with the support of the...

Leaving the EU could hit funding, charity leaders warn

Leaving the EU could hit funding, charity leaders warn

According to a new study, over half of charity leaders believe that leaving the EU will have a negative impact on their funding opportunities, with a large number of UK charities and not-for-profit organisations having received substantial EU funding over the last...

Fundraising Regulator Levy not paid by a third of smaller charities

Fundraising Regulator Levy not paid by a third of smaller charities

Almost a third - 600 of the 1,900 charities asked to contribute to the Fundraising Regulator's Levy are still yet to pay, according to the chair, Lord Grade. The Regulator's chair stated that the charities that have been asked to pay have either refused or not...

Changes to inheritance tax could impact charity legacies

Changes to inheritance tax could impact charity legacies

According to the legacy consortium Remember a Charity, over 1,000 fewer individuals could donate to charities as part of their wills as a result of changes to inheritance tax allowances. In the 2015 summer Budget, a new inheritance tax framework was announced which...

Charity 2017 Budget review and analysis

Charity 2017 Budget review and analysis

The Chancellor Philip Hammond presented the last Spring Budget on Wednesday 8 March 2017. In his statement the Chancellor was keen to point out that he wanted the tax system to be fair, particularly in relation to the distinction between employed and self-employed...

Tax Rates and Allowances 2017/18

Tax Rates and Allowances 2017/18

Tax Rates and Allowances 2017/18 Many of the tax rates and allowances are fundamental to our business and personal lives and the most important ones for the 2017/18 tax year are summarised here. We are sure that you will find it a useful point of reference throughout...

How technology may impact the charity sector in 2017

How technology may impact the charity sector in 2017

In this article we look at some of the ways in which technology may impact the charity sector over the next 12 months. Data security With the amount of hacking scandals that dominated the press last year, data security will continue to rank very high on the agenda in...

Charity Autumn Statement 2016 review

Charity Autumn Statement 2016 review

Philip Hammond presented what was to be his first and the last Autumn Statement on Wednesday 23rd November as he announced that going forward the budget will be in the Autumn with a Sprint Statement replacing the current one. In this article, we summarise the key...

Fundraising Regulator Levy

Fundraising Regulator Levy

You may or may not have heard of the new regulator in the charity sector.  The Fundraising Regulator (FR) came into being in July 2016 and is now responsible for the Code of Fundraising Practice. This code sets out the standards expected of fundraising organisations...

The Autumn Statement 2016 predictions

The Autumn Statement 2016 predictions

The Autumn Statement 2016 on Wednesday is set to be an important event.  It will be the Chancellor’s first opportunity to outline his plans for taxes & spending in the wake of the Brexit vote. But what tax changes can we expect in the upcoming Autumn Statement? ...

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