Welcome to the September 2019 issue of Charities Briefing.
With digital VAT reporting underway, we begin by taking stock and identifying where the challenges now lie for organisations; the journey is still ongoing for many reporters.
Off the back of the Charity Commission’s Accounts Monitoring Review, published in August 2019, we have put together some top tips for managing risk when dealing with related party transactions. There is often confusion around exactly what these are and how to deal with them.
Hitting the ground running is important for a new finance director. We reproduce an article on the qualities required and the challenges faced by finance directors, originally published in CFG Finance Focus in July.
Buying, selling and developing land and property can be a tax minefield for charities and it is very important that they prepare carefully and take the tax implications of their actions into account at the earliest opportunity. We outline the key issues.
Our next article is a round-up of the latest developments for charities operating north of the border. We also look at the Charities SORP governance review, which is relevant to the UK as a whole and all four charity regulators. It has provoked some debate, not least because the regulators themselves made up much of the panel.
Finally, we look at some of the latest news in brief, including the Charity Commission’s support for ‘whistle blowers’ and its report into Oxfam.
As ever, I hope you find this issue interesting and informative. Please feel free to contact me if you have queries on any of the topics raised here.
Cara Turtington, Editor