http://www.mercerhole.co.uk/latest-blogs/latest-blogs en louisegiles@mercerhole.co.uk Copyright 2013 2013-05-07T15:06:40+00:00 http://www.mercerhole.co.uk/article/charity-commission-cc-consultation-on-draft-regulations-affecting-permanent http://www.mercerhole.co.uk/article/charity-commission-cc-consultation-on-draft-regulations-affecting-permanent These draft regulations mean that trustees of pets will be able to adopt a total return approach to investments without seeking prior permission from the cc. This means that investment returns will not be labelled capital or income, but that trustees who adopt the new power will be able to allocate the return in the way that they feel best furthers the charity’s aims now an in the future. The draft regulations are out for consultation until 20 June 2013 and can be viewed at the cc website, www.charitycommission.gov.uk. It is expected that the regulations will be in place in October 2013.   2013-05-07T15:06:40+00:00 http://www.mercerhole.co.uk/article/gift-aid-small-donation-scheme-gasds http://www.mercerhole.co.uk/article/gift-aid-small-donation-scheme-gasds HMRC have published their guidance for charities and community amateur sports clubs (casc) on the new gift aid small donation scheme. This scheme allows eligible charities and cascs to claim top-up payments to a maximum of £5,000 in any one tax year from HMRC on small cash donations that they receive. The scheme applies to cash donations of £20 or less, received after 6 April 2013.   2013-05-07T15:04:03+00:00 http://www.mercerhole.co.uk/article/education-funding-agency-efa-2013-2014-budget-forecast-return http://www.mercerhole.co.uk/article/education-funding-agency-efa-2013-2014-budget-forecast-return The Education Funding Agency (EFA) has published the 2013/2014 Budget Forecast Return on its website, together with guidance notes on completing the return. The return is used to: Consolidate academies financial results into the Department for Education’s budgets. Ensure the estimates of the future funding requirements for academies are accurate. Assess the on-going financial health of academies. All academy trusts open as at 31 March 2013 must submit a completed return to the EFA by 31 July 2013. Academies that open from 1 April 2013 and new academies joining an existing Multi Academy Trust on or after 1 April 2013 will be sent their return to complete which must then be submitted to the EFA within 6 weeks of receiving their final funding letter or 31 July 2013 whichever is the… 2013-04-19T08:30:24+00:00 http://www.mercerhole.co.uk/article/new-financial-reporting-standard http://www.mercerhole.co.uk/article/new-financial-reporting-standard On 14 March 2013 the Financial Reporting Council issued FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. This standard is effective from 1 January 2015 but may be adopted early for accounts periods ending on or after 31 December 2012 (but see below). The standard applies to unlisted companies and subsidiaries of unlisted companies as well as public benefit entities (i.e. charity and not for profit). The Charities Statement of Recommended Practice (SORP) will be revised to take FRS102 into account and public benefit entities can not adopt FRS102 until the new SORP is issued.   2013-04-02T16:16:43+00:00 http://www.mercerhole.co.uk/article/how-will-the-march-2013-budget-effect-the-charity-and-not-for-profit-sector http://www.mercerhole.co.uk/article/how-will-the-march-2013-budget-effect-the-charity-and-not-for-profit-sector Gift Aid and online donations Currently donors must make an individual gift aid declaration each time they give online, in order for a charity to receive gift aid on their donation. It was announced in the budget that there will be a consultation with regard to online giving which would propose that online giving platforms would be able to collect just one single declaration for all donor’s future gifts through that website. Employment allowance From April 2014 all UK businesses, including charities will be entitled to a £2,000 Employment Allowance towards their bill for National Insurance contributions. According to HM Treasury the move is estimated to save the charity sector around £45m a year in total. Social Investment The government is going to consult on introducing… 2013-04-02T16:07:28+00:00 http://www.mercerhole.co.uk/article/charity-commission-workshops http://www.mercerhole.co.uk/article/charity-commission-workshops Charity Commission Workshops for recently formed charities working internationally The Charity Commission is running events in Manchester (7 February 2013) and London (12 February 2013) with the aim of helping trustees of recently formed (less than five years old) charities working internationally to manage the associated risks. The events will cover trustees responsibilities, legal requirements, due diligence when using partner agencies or delivering aid, monitoring and reporting. 2013-02-05T11:05:08+00:00 http://www.mercerhole.co.uk/article/charity-commission-annual-return-2013 http://www.mercerhole.co.uk/article/charity-commission-annual-return-2013 The Charity Commission has released the new annual return for 2013 which is now available to complete online. The new annual return is similar to previous versions with only minor changes. Charities this year will be additionally asked if the charity is registered for Gift Aid, whether the charity owns or leases any land or buildings, and whether any of the charity’s land or buildings are used for the charity’s purposes. Previously voluntary questions on overseas activities and the number of volunteers are now mandatory. The annual return must be completed within ten months from the charity’s financial year end. 2013-01-22T10:28:05+00:00 http://www.mercerhole.co.uk/article/academies-commission http://www.mercerhole.co.uk/article/academies-commission The commission was established in 2012, it is chaired by Christine Gilbert, a former Chief Inspector of Schools. The academies commission website states that: Good schools are vital to our individual and collective wellbeing and prosperity, and are vital for the foundation of a fair and cohesive society. Strong schooling enables us to cope with the uncertainties of life, develop our potential, and extend our opportunities. Good schools also work to correct underlying inequalities, and to advance other shared social and economic objectives. The Academies Commission is a major inquiry into whether the increasing academisation of our schools advances these goals. It follows a rapid increase in the number of schools converting to academy status with numbers swelling from 203 to 2,456 since the… 2013-01-14T09:42:07+00:00 http://www.mercerhole.co.uk/article/charities-and-charity-trustees-an-introduction-for-school-governors http://www.mercerhole.co.uk/article/charities-and-charity-trustees-an-introduction-for-school-governors The Department of Education, the Charity Commission and the SGOSS (Governors for Schools) published a new guidance for the governors of mainstream or special foundation schools, voluntary aided schools and Academies which briefly explains the responsibilities as a charity trustee and where to find out about being a company director (for academies). The document also gives guidance on who has to register with the Charity Commission, what is a charity, who are the trustees and what difference charity status makes to schools. 2013-01-09T11:20:39+00:00 http://www.mercerhole.co.uk/article/applications-for-registration-as-a-charitable-incorporated-organisation http://www.mercerhole.co.uk/article/applications-for-registration-as-a-charitable-incorporated-organisation The Charitable Incorporated Organisation (CIO) is a new legal form for charities (registered with the Commission, not with Companies House) that provides some of the benefits of being a company, without all of the associated burdens. Trustees of incorporated charities will have limited or no liability as the charity will be able to enter into contracts in its own right. According to the Commission, this structure will be most beneficial for small to medium sized charities which employ staff or enter into contracts. While running a CIO should be simpler than establishing a charitable company, it will not be as straightforward as running an unincorporated association or trust. Although no CIOs will be able to join the Register of Charities until 3 January 2013, the Commission has confirmed that… 2012-12-19T11:10:49+00:00