Your July SV newsletter

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Your July SV newsletter

In this month’s SV newsletter:
The countdown is on for the early bird discount for this year’s Charity Accountants Conference – we have the details for how to book your discounted place. We have some tax updates and Dulwich Picture Gallery feature as our client spotlight. Click here to view the full newsletter.

Planning a financial strategy to achieve long-term sustainability

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Planning a financial strategy to achieve long-term sustainability

It’s Small Charity Week from the 18-23 June 2018. Fleur Holden, Director at Sayer Vincent looks at how smaller charities can develop a robust financial strategy to ensure a sustainable future.

Click here to read Fleur’s latest article where she gives some key considerations for creating a financial strategy.

SV May newsletter

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SV May newsletter

In our newsletter this month, we mark Fundraising Week by offering tips on how the fundraising and finance functions can work together harmoniously. We give you the latest charity tax updates as well as shining our client spotlight on Contemporary Art Society, whose recent project has been in the news.

Click here to view the full newsletter and don’t forget to subscribe to our mailing lists if you want to continue receiving our newsletter!

SV April newsletter

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SV April newsletter

Click here to view our latest newsletter. This month, we update you on recent charity finance sector news. As April is Bowel Cancer Awareness Month – our client spotlight is on Bowel Cancer UK and Beating Bowel Cancer. We caught up with SV alumni Bex McGann to discuss her experience training and working with us and how skills gained at SV have been a key asset in her new role. Don’t forget to book your place at the Charity Accountants’ Conference with the early bird discount!

SV alumni – where are they now?

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SV alumni – where are they now?

2018 marks 30 years since we started training ACA accountants! After completing the ACA training, many of our people have stayed with us long term to serve our clients and many have found their calling as financial leaders within charities.

We’ve caught up with Mark Mark Burrage – Associate Director of Finance, CLIC Sargent to get an update on what he’s been up to since training and working with us. Click here for the full article.

HMRC and international payments

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HMRC and international payments

A charity’s general exemption to corporation tax (or income tax for a trust) applies provided the charity applies its income within its charitable objects. However, for payments made outside of the UK there is an additional condition. The charity must be able to clearly demonstrate that it has taken steps that are ‘reasonable in circumstances’ to ensure that the payment is applied with its charitable objects. This condition has always been there but in our experience the practical application of what HMRC deem ‘reasonable’ has not been tested.

In recent weeks we have been contacted by a couple of clients where HMRC have sought specific assurances on how the charity is fulfilling this condition. This may be coincidental or it may prove part of a growing trend.

It is reassuring that the questions being asked by HMRC are consistent with expected good practice for international NGOs in terms of partner due diligence, partner agreements and monitoring and reporting processes. These are controls that we consider on all our international NGO external audits.

However, if there are risks here they apply to charities that do not regularly make international payments but may do so on an occasional basis. And potentially there are risks for charities in international affiliate structures where there may be less rigour in the set up and monitoring processes of a new project by virtue of working through affiliates.

Do not let HMRC have cause to charge your charity tax for these reasons. If you are in any doubt about whether you are managing this risk sufficiently contact either Jonathan Orchard or your SV engagement partner.

Charity Accountants’ Conference 2018

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Charity Accountants’ Conference 2018

We’re partnering with The DSC again for our 27th annual Charity Accountants’ Conference! We’ll be in Birmingham this year – more details and booking information to follow but in the meantime, save the date: **20-21 September**

Our first newsletter of 2018!

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Our first newsletter of 2018!

In this month’s SV newsletter, we give you our thoughts on the likely financial risks facing our clients this year. Windle Trust International is in the spotlight as one of our newer clients and we’re also offering a special January sale on our VAT Handbook for all of our readers!

Click here to read the newsletter and email marketing@sayervincent.co.uk if you would like to receive them monthly directly to your inbox.