Charities
How charities can manage the burden of compliance
Charity may not begin at home, but in these difficult economic times, it is vital that charities are able to operate cost effectively in order to survive.
The sector has witnessed a major increase in the burden of compliance. Statements of Recommended Practice (SORPS) continue to be regularly updated. Financial statements have to be prepared in a special format. Trustees have a need for regular and up-to-date advice and information.
Cartwrights works with and advises both large and small charities. We provide pro-active advice to help charities negotiate these difficult times, whilst ensuring charitable objectives they continue to be achieved.
In addition to our advisory services to charities, we also offer a range of compliance solutions including, bookkeeping, payroll, accounts preparation, independent examiner reports or full charity audits.
Our expertise in the charitable sector has enabled us to fine tune our systems and procedures so that we are able to deal cost effectively with the compliance burden and ensure that we have a sound knowledge of developments in the charity sector. Our advice and our input will help assure trustees comply with the latest regulations.
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Latest news from [Company name]
The Chancellor, Rachel Reeves, has announced an expansion of the British Business Bank’s (BBB) Growth Guarantee Scheme (GGS). This provides a 70% government guarantee on commercial loans to SMEs of up to £2 million, cutting credit risk.
The government is consulting on potential measures that target Electronic Sales Suppression (ESS). Proposals include the introduction of new software standards for Point of Sale systems. Electronic Sales Suppression (ESS) involves businesses using software or devices to manipulate Electronic Point of Sale (EPOS) systems to hide transactions and evade tax.
The June 'UK Report on Jobs' shows subdued business confidence driving a preference for short-term staff. Temporary staff billings rose at the steepest rate in over three years, while permanent staff appointments continued to decline, although at a much slower pace than in May.
HMRC have proposed a new criminal offence for making reckless, untrue statements or declarations about what's known as 'direct taxes' - Income Tax, National Insurance and the like. For Customs and Excise and VAT ('indirect taxes'), it is already possible to prosecute individuals who make untrue statements or submit incorrect documents either knowingly or recklessly, without the need to prove dishonesty. The penalties for such offences can be severe, including substantial fines and imprisonment. The direct tax regime does not currently contain an equivalent offence.