Read our summary of the NCVO’s UK Civil Society Almanac 2023, sharing the latest data on the voluntary sector’s size, finances and people.
Sole traders & partnerships: If your year-end is not 31 March or 5 April, HMRC is changing how it will assess your profits.
Most charities need public support; therefore, how people interact and think of charities is intrinsically linked to what they can do.
As a result of ‘administrative discrepancies’ by the Department of Work and Pensions (DWP), mothers may have been underpaid around £1bn in state pension. This has occurred due to information missing from the national insurance (NI) records.
In an attempt to slow price rises, the Bank of England has increased interest rates for the thirteenth consecutive time to 5%, the highest in almost 15 years.
Having effective internal financial controls is vitally important for charities of all shapes and sizes. Putting meaningful checks and procedures in place will help ensure trustees protect their charity’s assets and finances, as well as enhancing the quality of their decision making, as they seek to put those assets to work for the public benefit.
The new tax year has begun; this means we can now submit your tax return for the year ending 5 April 2023. The final deadline may seem a way off, but submitting as early as possible is always preferable, so you are aware of any tax liabilities in good time. Here’s a checklist of things you may wish to consider.
Accurately completing the Charity Commission Annual Return should be a top priority for all charity boards. The data declared on it is used by the Commission to regulate the sector and is often the first information a member of the public will see about your charity, when searching on the charity register.
After April 5 2025, you’ll only be able to fill National Insurance gaps going back 6 tax years, so if you have many years missing on your record, you should start considering what you can do about this.
There are always competing factors to consider when thinking about your March year-end as a company. How prepared do you feel?
For a round-up of what the Spring Budget contained and how this might affect you, please read our summary of some of the major changes.
In an attempt to boost the post-pandemic economy, the super deduction tax rate and special rate allowance were introduced to encourage businesses to invest and boost productivity. However, these reliefs are coming to an end…
In March 2021, when Rishi Sunak was Chancellor, the Corporation Tax rise was first announced. After some confusion that arose from the mini-budget, Jeremy Hunt has since confirmed that this rise will still take place in April 2023.
What’s in it and how might it affect you? On the 17th of November 2022, Jeremy Hunt revealed the details of his Autumn Statement.
