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]
Begbies Traynor, a firm of business rescue and recovery specialists, have published their latest Red Flag Alert based on financial data from the last quarter of 2023. It makes worrying reading as they estimate that more than 47,000 businesses in the UK are near collapse because of being in critical financial distress.
The Department for Business and Trade are making changes that will ban dripped fees, make fake reviews illegal, and make sure that price labelling on supermarket shelves is clearer.
The government has pledged £500,000 of funding to help facilitate agreements that will allow UK professionals to qualify more easily to provide services in foreign countries.
In recent weeks there has been a flurry of online activity discussing the new law that will require online marketplaces to report information about income made by their users to HMRC. The discussion has led to many people asking questions such as “Will I have to pay tax on the money I make from selling my old belongings on Vinted or eBay?”