We have decided to copy our client Unicorn Grocery and donate a percentage of our total wage bill to good causes. This year we decided to allocate 2% which came out at £4,000; colleagues voted to share this between the following: Barnabus – helping the homeless and street sleepers in Manchester Coffee4Craig – direct assistance for street sleepers in Manchester …
Great news for societies registered with the FCA!
From next month, the annual registry fees will be abolished for the vast majority of co-operative societies and community benefit societies – the only exception being those that are providing authorised financial services. So if your organisation is a society then you will no longer need to pay that annoying annual FCA fee which is so much higher than the …
If you are a director you may not need to do a tax return any more
HMRC has always insisted that all company directors should do tax returns, even if they only had income under PAYE. This is relevant to many co-operatives, particularly those that are companies limited by guarantee. Often, all members are directors and only receive money from the company under PAYE. The good news is, the Revenue have finally realised (after losing several …
Making Tax Digital for VAT
What does it mean? Making Tax Digital (MTD) will mean that you cannot log on to HMRC’s website and file the VAT return. You have to file the VAT return directly from your accounting software. The accounting software must contain all your transactions in digital form, or must be digitally linked to other software that contains all your transactions. When …
The budget: how does it affect the Third Sector?
Here’s a few things we thought might be relevant to our client base. Off-payroll working The public sector off-payroll rules will be extended to the private sector from April 2020. This means that if you are engaging someone on a freelance basis you will be obliged to assess their employment status. If you deem them to be employed, then you …