The Spring Budget was relatively uneventful for those in the property and construction sector. That may come as a welcome relief to many, with previous budgets introducing increased tax liabilities to property investors in particular. (more…)
The Common Reporting Standard (CRS) came into force in January 2016. It is an information exchange regime aimed at international tax transparency. Under CRS, “financial institutions” are required to report information about their clients to their client’s domestic tax authorities, with the aim of preventing the use of offshore structures to avoid tax. (more…)
Cybercrimes and scams include: (more…)
In the current climate Trustees would be advised to work their way through the guidance ensuring they properly understand their duties and obligations but also with a view to obtaining a wider understanding of the charity sector.
These are our top 12 guides that we would suggest issuing to Trustees over a 12 month period. The aim being to achieve stepped marginal improvements in Trustee expertise and knowledge over time.
CC guidance our top 12 guides to pass to trustees – one a month?
It has been announced that more than £24 million will be available for the development and marketing of tourism through the Welsh Government Rural Communities – Rural Development Programme 2014-2020, which is funded by the European Agricultural Fund for Rural Development and Welsh Government. (more…)
Month four of our “keeping your charity on the right track” publication.
This month our publication “Keeping your charity on the right track” is looking at charity reserves. Who didn’t look at the financial position of the Kids Company in 2016 when it closed? The charity had literally no reserves and yet each year it raised and spent millions of pounds, spending everything that came in in each financial period with no thought to keeping something in reserves for that rainy day. (more…)
It is paramount that trustees as individuals, and the board as a whole evaluate if they are doing a good job, fulfilling their duties as trustees and are the right fit for the board they have chosen to sit on.
A board can operate at an ineffective level without stopping a charity itself from operating, however a charity will run more efficiently and effectively if it has a board of trustees who are proactive, who challenge and most of all provide effective leadership and vision.
Before accepting a role as a trustee or if you are currently trustee you should consider the following: (more…)
Running a Bed & Breakfast business from your farmhouse can introduce some diversified income into the family and make use of some unused bedrooms. Such an enterprise can also be tax-efficient. A farmhouse Bed & Breakfast business qualifies for the rent-a-room allowance, which has increased to £7,500 per annum from 6 April 2016. The allowance is halved if you share the income with your partner or someone else.
If you earn less than the threshold from your Bed & Breakfast lettings, the tax exemption is automatic and you do not need to do anything. (more…)
The government recommitted to raising the personal allowance to £12,500 and the higher rate threshold to £50,000 by the end of the Parliament.
From April 2017 the personal allowance will rise to £11,500 (£11,000) and the higher rate threshold to £45,000 (£43,000).
Nigel Morris, Employment Tax Director said “This is some good news for employees and will help many households manage the impact of inflation and price rises on the high street.”
While much has changed since the UK public voted to leave the European Union last summer, one thing has remained the same – uncertainty. As political negotiations have gone back and forth, with the most recent resulting in the announcement that Article 50 will be formally invoked this week, many of our clients have voiced the same concern, that a lack of understanding of what Brexit will entail is disrupting their ability to plan a long-term strategy. Until this process is officially started this will remain the case, but there are several ways that our negotiators can ensure that our SMEs can get the “right deal”, as the Prime Minister put it. (more…)