Archive for the ‘Charity & Not-for-Profit’ Category

Giving to charity in life and death

Posted on: January 10th, 2018 by Sarah Case No Comments

How to include charitable donations in your tax planning strategy.

Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on your estate.

As such, gifts may become an important component of both the estate planning process and the more immediate goals of reducing your income tax bill.

You can make charitable gifts at any time during your lifetime and posthumous gifts can be written into your will. (more…)

Finding New Trustees

Posted on: January 9th, 2018 by Sarah Case No Comments

Welcome to 2018 and our new publication 11 Key Steps for Trustees, 1 Giant Leap for your charity.  Recognising the work The Charity Commission are undertaking to upskill both trustees and increased standards and governance throughout the sector we have focused our 2018 publication on Trustees. (more…)

11 Key Steps for Trustees, 1 Giant Leap for Your Charity – Month to Month Guide to Better Governance

Posted on: January 2nd, 2018 by Sarah Case No Comments

The Not for Profit sector is dealing with continued challenges from numerous directions. Changing legislation is placing a cost burden onto organisations that are already struggling with funding issues. Governance continues to be key in maintaining and developing a successful organisation and has never been more important in the third sector. Being alive to taxation changes has become imperative and the charity regulators are adopting a more rigorous approach. (more…)

Welsh advisory firm praised in annual charity satisfaction audit

Posted on: December 12th, 2017 by Sarah Case No Comments

A leading South Wales-based advisory firm has been recognised as one of the country’s top performing charity auditors in a leading UK industry survey.

MHA Broomfield Alexander was highlighted for ‘special mention’ in Charity Finance’s annual survey of more than 800 charities, ranking the it joint second for overall service and joint third for charity expertise, for firms that received 30 or more responses. In total, 36 of the firm’s charity clients responded to the survey. (more…)

Charities have historically struggled to plug the skills gap in south Wales

Posted on: November 17th, 2017 by Sarah Case No Comments

The one million trustees, supporting almost 200,000 charities across the UK, help to make the UK the sixth most giving country in the world. With Trustees’ Week (13-17 November 2017) upon us, Sarah Case, director at advisory firm MHA Broomfield Alexander, offers her experience on what makes a good trustee, the importance of financial skills and how individuals, as well as charities, can benefit from the experience. (more…)

VAT Alert: Charities will NOT be excluded from Making Tax Digital roll out

Posted on: November 14th, 2017 by Sarah Case No Comments

Broomfield & Alexander have been working extensively with our clients to move them to accounting software systems. This is in preparation for April 2019 when HMRC will expect VAT registered businesses to be able to pass their VAT return data across directly to HMRC in a digital format.

Liz Maher from Centurion VAT Specialists team – who works with us in supporting our Charity Sector clients – has passed news to us of a significant VAT change which will impact across the sector. (more…)

5 Ways to Generate More Income for Your Independent School

Posted on: November 13th, 2017 by Claire Thompson No Comments

As we are all only too well aware, making the school budget balance is becoming more challenging as income struggles to keep pace with the increasing costs all schools are facing. There can be a focus on cutting costs and making financial efficiencies, but what are you doing to increase your income? Below are five examples to get you started! (more…)

Trustees Week

Posted on: November 13th, 2017 by Sarah Case No Comments

The UK is the sixth most giving country in the world – what an amazing statistic. A significant part of that statistic is the work our trustees undertake each and every day in Charities across the country. Just over a million individuals give up their time to be a trustee – that is a phenomenal amount of people, but what qualifies them to be a trustee and could you become one? (more…)

Converting to a Charitable Incorporated Organisation (CIO)

Posted on: November 1st, 2017 by Joanne Taylor No Comments

From January 2018, incorporated charities will be able to become charitable incorporated organisations.

The CIO is a fairly new type of charitable structure that was introduced in the Charities Act; it allows charities to take advantage of many of the benefits of incorporation without being registered with Companies House, and therefore having to bear the administrative burdens that come with this. (more…)

Charities don’t report enough serious incidents

Posted on: November 1st, 2017 by Claire Thompson No Comments

The Charity Commission has released ‘How to report a serious incident in your charity’ as a replacement for previous guidance. It outlines types of serious incident that charities should be reporting and includes a checklist for trustees.

Last year, charities reported 2,181 incidents to the Commission. Some 55 per cent related to safeguarding, a third to internal (‘insider’) fraud, and 14 per cent related to external fraud or money laundering. (more…)